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.

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!

Sounds like they know what they are doing, with the awards won.

3m will smell the gin before long, just watch. :-))

Just got a wiff DC - no tonic though have run out. Agree with Kim welsh lamb is the best .

What did I say . lol

You are beginning to know me so well dc, just a shame I ran out of tonic, so am having a glass or two of red wine. Cheers! Not a good day for me on the old shares, however that is life.

A glass or two of red wine are a tonic in themselves 3m! Hope you a feeling a lot better now, apart from the shares. Tomorrow will be a very good day on the market. Not sure which market though! :o)

Why the tonic, lol. What your local market. :-))

Thanks kim, hope you are enjoying your lovely grandchild. Feel better in a way but very tired - keep going and doing my little voluntary job which I don't know is doing me mentally any good, particularly when I read all the crap on talk to yourself thread!!!!!! People haven't got a clue what goes on in our Country. I hope all stall holders do well on the markets tomorrow, what a hard life!!!!

Sorry dc only 3 hours sleep and did not want to drive today.

Well done for the voluntary job 3m, an essential part of British life! Grandson is a great little chap and has been a very welcome addition to my daughter and son-in-law's life at a very sad time; his grandmother died just 19 days after he was born and was buried on Monday. She lost a long fight with breast cancer but had been determined that she would be alive long enough to be able to hold her grandson, which thankfully she was able to do. Life's ups and downs can be tough.

Would not bother with that thread 3m, half the time you talk to yourself.Like most of the threads on here.

Good your grandson is doing well kim. Sorry to hear your other sad news.

My condolences to you all kim.