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.

hangon - 17 Dec 2010 17:48 - 672 of 701

"Anyone would think the Oil/Gas industries were still sucking the stuff out with a straw."

Yes, they are actually, when it comes to gas.



"CRA makes a gas pump - it's different, but still a pump. If it needs servicing the well is out of action for a long time. That may be why down-hole was not used for Gas supplies...dunno. "

That's not the reason.
Think of ESPs (electric submersible pumps) for oil wells, and the nodding-donkey push/pull valves - they consist of moving parts and need lubricating - luckily the whole thing is submerged in oil so that's not a problem.

What happens if you're in a gas well? There's no oil for lubrication - THAT'S why the DGC (downhole gas compressor) has its niche, because it has gas bearings - blows a film of gas between two surfaces, so they don't actually touch. That means the moving parts (a rotor with blades) can spin without actually touching anything else.


I have held these for a looooooooooooong time. It seems to have taken forever. At least one American customer has a DGC now, so we might just be about to do a real live well trial for the first time ever. Here's hoping.

i love the CRA concept but hate the fact that they have failed dismally to deliver despite many promises that success was imminent

I think this company will surprise in 2013. Its in the shares mag top 16 picks for 2013.

Year End Trading Update & Notice of Results
RNS
RNS Number : 0825X
Corac Group Plc
05 February 2013



5th February 2013



CORAC GROUP PLC

("Corac" or the "Group")

Year End Trading Update

&

Notice of Results



Corac Group plc the innovative technology-led engineering group, serving the global oil and gas, defence and industrial markets, today announces a trading update for its financial year ended 31 December 2012 and notice of results.



Trading Update



The Board expects that the Group's financial performance will be ahead of market expectations. Cash and cash equivalents are also ahead of market expectations, at £6.6 million at year end (30 June 2012: £6.8 million).



During 2012, the Group successfully integrated the two acquired businesses that have contributed revenues and profits to the overall result, whilst the gas compression development programmes continued to progress well. Following delivery to the American partner, pre-deployment system checks on the first DGC have been completed successfully. The system is now ready to begin deployment and preparatory work is advanced on the well.



An update on the progress of the wider Group programmes will be provided at the time of the final results.



The three subsidiaries are performing well and management is pleased that the combined current order book places the Group in a good position for 2013 and beyond.



Notice of Results



The Group's final results for the year ended 31 December 2012 will be published on Tuesday, 26 March 2013.



Phil Cartmell, Chairman of Corac said:

"2012 was a year of significant progress for Corac, with successful acquisitions and evidence of increasing confidence in the commercialisation of our unique technologies in multiple sectors of significant scale. We are excited about the prospects of 2013."

Corac results 'ahead of expectations'
Tue 05 Feb 2013

CRA - Corac Group

Latest Prices
Name Price %
Corac Group 14.75p +9.26%

FTSE AIM All-Share 739 +0.13%
Industrial Engineering 8,682 +1.00%

LONDON (SHARECAST) - AIM-listed technology-led engineering group Corac has published a trading update for the year end, indicating that its financial results are likely to exceed board expectations.

The group, which serves the oil, gas and defence markets, reported that its financial performance would be "ahead of market expectations" adding that cash and cash equivalents were also better than forecasts at £6.6m at the year-end compared to £6.8m on June 30th 2012.

During 2012, the group integrated two acquired businesses which contributed revenues and profits to the overall result, whilst the gas compression development programmes was reported to be continuing to progress well.

Corac reported that its three subsidiaries were performing well adding that management was pleased that the combined current order book placed the group in a good position for 2013 and beyond.

Phil Cartmell, Chairman of Corac, said: "2012 was a year of significant progress for Corac, with successful acquisitions and evidence of increasing confidence in the commercialisation of our unique technologies in multiple sectors of significant scale. We are excited about the prospects of 2013."

Corac's share price was up 11.11% to 15p at 09:53 on Tuesday.

Corac Group (LON:CRA) had investors in a spin when it said its full-year results will be ahead of the best guesses of City greybeards.

A statement read: “2012 was a year of significant progress for Corac, with successful acquisitions and evidence of increasing confidence in the commercialisation of our unique technologies in multiple sectors of significant scale. We are excited about the prospects of 2013.”

may be an interesting punt, but certainly don't like the current 1p spread if that is the norm ..... when are the numbers actually due to be published?

The Group's final results for the year ended 31 December 2012 will be published on Tuesday, 26 March 2013

Thought this might surprise. A shares mag pick top 16 company for 2013.

closed up 7.5%

closed at 15.25/16.50 = +1.125 = < than the spread!

If you was a fish you would be caught every time with the bait. Only put it up to make you bite. As I know you love this share. I cannot complain, its working hard for me. :-))

I promise that I will not buy any of these DC, it would be the kiss of death! :o)

Stay away !!!!!!!!!!!!!!!!!!!!!!!!! please lol

Donations, in a sealed envelope, gratefully received! :o)

I will pay you what ever you would like, stay away. lol

Thats within the law. lol

I'll settle for a bottle of Penderyn Whisky!

welsh whisky is that whisky ? Sounds like mutton dressed as lamb. :-))

It's better than lamb, though Welsh lamb is the best of course! Penderyn do gin and vodka too, we know how to multitask in Wales.

Not, now Dolly, I'm busy!