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.

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

on the move

Yes, I notice CRA have risen from just below 20p to their current level this week, and whilst volumes have been low it has been buyers with the upper hand, long may it continue as there is a fair old way to go before I'm in profit.
2517

StockMarketWire.com
First half net after-tax losses at intellectual property and engineering group Corac rose to 2.41m - up from 1.28m last time.

Revenues for the six months to the end of June fell to 0.05m - down from 0.89m - but the firm's cash and cash equivalents increased to 3.69m from 2.69m.

Chief executive Phil Cartmell said: "We have made significant changes during the first half to improve the internal management, systems and processes and as a result the board is now re-organising the company around three main business streams.

"This will provide a broader reach into new geographies and sectors which I believe will leave us better placed to meet the challenges in the near future in order to deliver returns to all our stakeholders."

sorry but this company remains well avoided .... there have been far too many intimations of "great progress" which have never been borne out

I agree. Absolutely hopeless & will ditch my stock at the end of the tax year if I need to reduce my capital gain.

StockMarketWire.com
"Energy efficient compressor technology innovator Corac has signed a development agreement with an independent US gas explorer and producer.

Corac says the agreement has a maximum value of $1.5m, based on achieving milestones over a period of 18 months, with an upfront payment of $750,000.

The project is to develop, build, test and field trial Corac's downhole gas compressor in a depleting well in North America with the aim of accelerating gas flow through artificial lift, thereby increasing production and extending the life of the well.

The development phase is expected to take approximately 12 months followed by a six month field trial.

The project requires deployment of the DGC in a well via coiled tubing, which is less expensive and easier than alternative methods. "

At long, long last????

perhaps, but false dawns before and no news that i can see and even volume is not that large (250k)

Only another 50% increase needed & I am in the money!

i am not convinced that it is not just MMs, who totally control sp in this stock, trying to drum up some biz to get rid of surplus stock

Have just received this via my trading account :o(
"OPEN OFFER The Board of Directors of Corac Group Plc has confirmed that it is considering a placing and open offer of around GBP20m at 15 pence per share. Investors should be aware that there is no certainty of the placing or open offer taking place and further details will be notified in due course."