Yes an engineer but lets call it a TECH Engineer. Compressed air technology is its main business, develops industrial air compressors and Gas seals and whats more it provides them for the OIL and GAS industry.
Very close to commercialisation now with its compressors and seals and todays deal ( see below ) should bring that very close.

Charges upfront payments, continuing royalties and development contracts so revenues are not lumpy.

It as a market cap circa off the top of my head 20 million(hope my calculator is now working) and as circa of 5 million cash on the books, very nice.

Some very big names as customers.

Heres todays announcement...........

Corac Group Plc
26 May 2004


For Immediate Release 26 May 2004


Corac Group plc ('Corac')

Joint Industry Programme for Downhole Gas Compression

Corac, the intellectual property and licensing company specialising in
compressor technology, is pleased to announce the signature today of a Joint
Industry Programme ('JIP') for the development of its unique, patented downhole
gas compression technology.

Following the recent successful completion of a Shell funded feasibility study
which evaluated both the technical and economic viability of the technology,
considerable industry interest has been generated, culminating in the addition
of a further four major international oil and gas operators to the project.

The participants of the JIP comprise ConocoPhillips, ENI, Husky Energy,
Repsol-YPF as well as Shell, all of whom have gas assets worldwide which they
believe could benefit from this game changing technology. As well as covering
the development costs for the next phase, the participants will also make
substantial resource available to ensure the final product specification meets
the requirements of the industry.

Corac's downhole gas compression concept involves the coupling together of a
number of axial compressor modules in a single compression train for
installation in the well bore in close proximity to a gas reservoir. In this
location, a modest uplift in pressure results in a very significant increase in
gas production compared with conventional methods using surface compression,
thereby accelerating gas production and cash flow from a producing asset.
Potential production rate enhancement of up to 40% has been demonstrated through
the application of downhole gas compression during a number of gas field case
studies carried out over recent months.

Placing the compressor downhole could also have the effect of being able to
lower the reservoir abandonment pressure which in turn would materially increase
the ultimate recovery from a gas field, thereby further enhancing the economic
benefit from the installation of this novel application of existing technology.

Phase 1 of the JIP is scheduled for completion by the end of 2004, with further
engineering and development work leading to the manufacture and testing of a
prototype downhole in a producing gas well within the following two years.

Commenting on the JIP, Professor Gerry Musgrave, Chairman, said:

'The support from such eminent oil and gas companies vindicates Corac's
development to date of the downhole gas compression project and gives the Group
another product line to bring to the market using its core technologies. It is
the start of a major business development opportunity which is expected to have
significant international ramifications throughout the upstream natural gas
industry.'ENDS.

Although loss making at the moment it shouldnt be very long before this one turns the corner.

Outlook

The Company has a loyal, talented workforce dedicated to the innovation and
exploitation of the technology. Successful trials have demonstrated the
commercial performance in Corac's industrial air compressor and its seals. The
Board is striving to deliver the right manufacturing and sales licences which
will yield the best returns in the long term.

We are confident that a number of deals, which have been subject to recent
intensive negotiation, will be successfully concluded in the near term.

Short to medium term investment, and anyone interested should DYOR and please remember you are responsible for the timing of your buying and selling actions.

cheers GF.

good post from a d v f n from Nick2412

Exciting times and thanks for the posts from banshee and the prophet today.

Worth bullet pointing the highlights from these posts and AGM reports of what we can anticipate prior to trial. Even if half the potential news comes then surely the Company has to beat last years highs of 94p pre-trial?

Probably worth adding the word 'potential' in the statements though as until they are signed that is what they are however close and realistic they might be.

Direct highlights from the posts of what could be in the offing pre-trial:-

1) Distressed seller (My note: share price action this afternoon suggests they might be out now. Small purchases moving the stock up quickly.)

2) Another DGC Sale.

3) A deal for DGC use above ground within gas fields,

4) Another O&G Major joining the JIP

5) Further live trial.

5) Plus one or two other tidbits like signing off of the trial DGC and a 1 million payment from ENI for same, news from BH etc. (My note on BH: JV with Baker Hughes on track to progressing to a full-scale sales and marketing agreement for DGC.)

6) Real signs of life in Industrial Air at last apparently, by which I imagine they mean new orders fairly soon too

7) New contracts at the detailed draughting/with lawyers stage - not IA related, more complex.

8) At least two new trials booked this year, one of which should be in the US (as well a new JIP member), though of course I imagine installation won't take place till 2010.

9) Full DGC system witnessed and signed off by ENI(should be reasonably near-term, ie within a couple of months)

10) In addition, a company they have been speaking to in the last two years now says they want to go with a live trial, I assume this is Woodside but The Prof would not confirm or deny on that one!

11) Regarding using DGC above ground to compress gas in pipelines, 'things are moving quite quickly on that front'

12) Another paper published, towards the end of the year, co-authored with BP
The ENI trial is 100% on track and 'things are moving apace'

moving up again, just one of the above items of news should be enough to tip this onto the 70p-90p trading tange, imo.

Strong start, but low volume.
2517

What the hell happened to this one? Something to do with the placing of new shares at 35p I suppose.
"The Company is pleased to announce that it has placed 14,131,820 Ordinary Shares with M&G Recovery Fund ('M&G') at a price of 35 pence per share ('the Placing Shares') to raise approximately 4.7 million (net of expenses). These additional funds will strengthen the balance sheet and enable the business to grow and realise its potential more quickly while mitigating the risks of commercialising its technology.
Application has been made to admit the Placing Shares to trading on AIM and Admission is expected to occur on 1 October 2009. "

looking at the recent holdings might be a buy for now... you think Harry?

As funds go I believe the M & G Recovery Fund has a decent reputation, so whilst there is weakness atm it may bode well for the future. Balerboy, I wouldn't argue with your view, this may be a good opportunity. 39p atow.
2517

Yes, was going to buy at 38p but found I had no spare cash!
Hoping for another bounce back to the 200 DMA at which time I should have scraped some funds together.

Bid / offer spread 39 - 43p. Not exactly encouraging punters!

Corac announces a trading update following a review and discussions with Eni SpA ("Eni"). Despite achieving a number of key milestones in the year, necessary development and design changes specific to this project have arisen and the Company is now putting a revised timetable and plan in place for the field trial to go live in H2 2010, as opposed to Q4 2009 as previously reported.

Corac is pleased to announce that the Company is in discussions regarding contract terms with two other potential field trial partners to use the Downhole Gas Compression ("DGC") technology, one in the USA and the other in the Middle East. Both trials could provide a significant opportunity and greater breadth of application of Corac technology to the gas market.

Phil Cartmell, Chief Executive said:
"I am obviously disappointed that Corac is unable to start field trials in 2009 as planned, but pleased that the Company is now putting in place a revised plan to deliver to Eni. I am delighted that we are in negotiations regarding contract terms on two more projects relating to the DGC technology.

The Company is now entering into a new phase to manage and improve delivery of these important projects and will implement the right approach across the business to achieve its goals."

Q4 was already a delay, so latest news shows company in a very bad light indeed ..... glad i only hold a pretty nominal amount (even less nominal now!) .... this is yet another company that makes regular excited noises and then fails dismally to deliver ..... no doubt the apologists will surface here during the day

directors credibility disappearing rapidly what can sharehoders believe?

what your eyes see and the market tells you

Not long got in from a day Christmas shopping so nice to see a bit of blue in a crimson market, albeit from a very low base.
2517

noticed it held it's own against all the red to.

Pleasing start, let's hope it holds.
2517

From the trading update on 11th November 2009--'Corac is pleased to announce that the Company is in discussions regarding contract terms with two other potential field trial partners to use the Downhole Gas Compression ("DGC") technology, one in the USA and the other in the Middle East. Both trials could provide a significant opportunity and greater breadth of application of Corac technology to the gas market.' ---- I wonder how the discussions are going.
2517

re post 644--------kod, will I never learn?
2517

16 March 2010
CORAC GROUP PLC

Notice of Preliminary Results

"On behalf of our client Corac Group plc, we notify the London Stock Exchange, that the Company will be announcing its Preliminary Results for the year ended 31 December 2009 on Wednesday 28 April 2010.

An analyst briefing will be held on the morning of results at the offices of Buchanan Communications, 45 Moorfields, London, EC2Y 9AE"

Business Financial Newswire
"Intellectual property and engineering group Corac's full year revenues rose to 1.34m - up from 0.66m in 2008.

The net loss after tax for the year to the end of December fell slightly to 2.93m from 2.97m last time with the loss per share down at 3.1p from 3.5p.

The firm raised 5.79m from investors and it had year-end cash of 5.34m compared with 2.12m in 2008.

Chief executive Phil Cartmell said: "Corac's strength is in the innovative ideas of its people.

"Progress has been made in the course of the year where we have supported new developments in the application of industrial air and DGC technologies and new patents have been filed to extend the application of our core technology."

I find this Co is fully supported by punters , yet there is little in the way of sales and a lot of Options for Directors should anything actually happen. This weakens the retail shareholder, particularly as the Options are a low prices (opportunistic some say?).
It's not as though CRA is an established player and I wonder if other engineering co's in this sector wouldn't already have thought of these "novel techniques"(my words)-or are we looking at a cutting-edge fantastic opportunity as some believe.

Er, NO! IMHO this would already have become a "must-have" and someone would have bought them out to corner the market.
There are plenty of co's who shout how wonderful they are (they'd not be on the Market, otherwise) - and plenty never get anywhere....is this just one more...?

Patents are useful, but only to protect your sales - if you have to take on a big-player you need a lot of dosh, just to keep up.