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.

another article from the worldwidebb

http://www.worldwidebb.com/news.php?id=latestnews&cast=351

01.03.2007 - Is Argentina crying out for Corac ?

It is March 2009 and regulars down at the Dog and Duck are being bored to death by Mister Bote -Biggtime pointing out yet again that, if he hadnt sold his 10,000 shares in Corac back in 2006 for 32 p, his holding would now be worth 50,000 and it would have been drinks all round.

All through 2005 and 2006, I kept reading these articles about this obscure company with its revolutionary new compressor technology and eventually I bought a few thousand with the intention of adding to my holding as certain milestones were reached Bote- Biggtime related for the umpteenth time. Then, early in 2007 a friend at the golf club told me I had to fill my boots with Flying Pig Uranium and, as I didnt have any spare cash at the time and they were still going nowhere, I switched from Corac at 34p into FPU thinking that I could always get back in again if and when they finally started to move. One of the well rehearsed listeners then anticipated the next line - And the rest, of course, is history.

Yes, Im afraid so. BB droned on The next thing that happened was the Chinese market suddenly fell out of bed and I was so pre-occupied with the collapse of FPU and the rest of my portfolio that I didnt even notice that, while 99.9 % of the market was in full retreat, Corac had surged to a new high for the year. It wasnt until a year later when the companys Downhole Gas Compressors started to turbo-charge gas production in a number of fields by 30 40 % that I noticed the shareprice had soared to 2. I thought that the price would react and I could get back in again a bit lower down but the next thing that happened was that they surged to 3 and are now of course up to 5. In fact my broker tells me they could double again to 10 when the company hits its initial target of 1,000 installations. Better have another large one please Bert.

This little fable may be fictitious enough but it is designed to make a very serious point. As we have repeated on so many occasions, this is a share that could multiply by up to 30 times from its current level of 42p. What is certainly not fictitious is that Corac is so far on course to deliver everything we said it would since we first highlighted the company way back in April 2005 when the shares were 41p ! Small wonder that Bote Biggtime got bored and moved on to something else. Yes, thats right. After nearly 2 years of remarkable progress by the company, the shares have advanced by precisely 1 p!

So, anyone buying now is paying 1p more for the fact that Corac has already got 2 worldwide licensing deals for individual versions of its core industrial compressor technology which both improves efficiency and cut costs. More are rumoured to be in the pipeline and this side of the business alone should underpin the companys current value of 32 million and they havent even tackled the multi-billion pound refrigeration market yet.

However, it is Coracs Downhole Gas Compressors that are really catching the imagination of the companys small but growing band of savvy enthusiasts. This is a string of sausage-shaped compressors that are narrow enough and robust enough to be inserted a mile or two down gas wells with a calibre of just 7 in order to suck out gas from reservoirs suffering from poor or depleted natural pressure. This ability has always been the Holy Grail of the natural gas industry and Corac is now within sight of achieving it. Final testing at the old Bluestreak rocket test site in Cumbria appears to have been successful enough for the company to advertise for a project engineer to oversee one of the first real-life field trials involving travel to Spain and Argentina. This clever bit of detective work by a company follower on one of the bulletin boards has been elaborated upon by someone pointing out that one of Coracs major joint- venture partners in the DGC mission is Spanish oil and gas giant Repsol who are also responsible for operating the giant Loma La Lata gas field covering 768 square miles of Argentina and accounting for 30 % of that countrys total gas production.

Repsol has been struggling with pressure problems at Loma since 2001 and, if this is where Coracs downhole compressor is to make its international stage debut and is successful, then production should soar and many of the 200 wells covering the field could be shut down saving operating costs. Remember, even a 10 % hike in output at Loma is equivalent to a 3 % hike in total Argentinian gas production. The numbers are mindblowing when one considers that these compression units only cost about 1 million each. It may be petty cash to Repsol but it will be jackpot time for Corac. At any one time an estimated 100,000 gas wells around the World are suitable for downhole compression and the company only has to get 1 % of this or 1,000 units p.a. to be a billion pound turnover concern with a similar market value. It will clearly take 2 or 3 years to ratchet up to even this level of production and to train hundreds of field engineers how to install and operate the equipment but patience appears to be a prerequisite of the genuine Corac enthusiast. At the end of the day, the Downhole Gas Compressor represents a remarkable triumph of British engineering which, provided there is no last minute showstopper, should repay investors in spades. Some sausage, some sizzle !!

Hey notlob, someone read your story and decided they didn't want to be rich, so they sold out today at 42p. What a sucker.............Forward thinking, if CRA prove their turbo compressor to be an absolute requirement for every downhole well, then this would mean that every well could be producing up to 40% more gas. This would mean that the surplus of gas on the markets price would fall. This in turn would therefore reduce the profits of every gas provider, therefore reducing their share prices. Prehaps I ought to sell all my E and P stocks and change my handle to something like blowjob.

hi oilrag
well, the gas boys won't pump out more than they need....it will be more efficient for them, so they will make more money....and CRA will make plenty as well, so I see a win win situation!
I think compressors actually suck the gas out, so should that be suckjob? hasn't quite got the same ring to it!

Whatever, I think CRA has a lot lot further to run, imo!

Looks v interesting

My only question is why didn't they keep it a secret and buy some run down gas fields and make hay that way. Surely bigger profit that way??

several reasons, confidant

1) CRA are an engineering IP company, gas fields are not their area of expertise as such
2) If you had three giant oil/gas companies willing to fund all the development and assists with live trials, you would be mad not to go with them. That has probably accelerated development by years

last point, what you suggest may hapen in the future, to some extent. eg, it is possible that future deals will include a share of the gas revenue for Corac.

Seems to be a mad exodus this morning, whats wrong with these people, don't they want to make any money. Or do they know something.

main market panic!

not a lot of interest today, maybe prelim announcement tomorrow may change that...

Prelims were not hugely impressive & with the difficult market conditions at the moment does everyone still think that the usual spike up is still on the cards? I am still holding and looking for a 55p high, but progress is grindingly slow at the moment.

I have sold out but remain watching this one--as soon as they get sizeable contracts they'll fly. They are financially supported by some well known companies in the oil industry according to comments on the other side but still on a promise at the moment--lots of patience needed.

Have top sliced my holdings to a freebee ride, will watch and wait as I agree with moneyplus. May have to wait as long as 2009 before real growth but hope its sooner. I will top up if it goes below my original purchase price.

Spotted this moving up yesterday, and again today. Anyone know the story.

Yep. Bought in again to add to my residue stock when a well known and respected PI on finfoex mentioned this one on that site.

Heres the original post....

Is Argentina crying out for Corac ?

It is March 2009 and regulars down at the Dog and Duck are being bored to death by Mister Bote -Biggtime pointing out yet again that, if he hadnt sold his 10,000 shares in Corac back in 2006 for 32 p, his holding would now be worth 50,000 and it would have been drinks all round.

All through 2005 and 2006, I kept reading these articles about this obscure company with its revolutionary new compressor technology and eventually I bought a few thousand with the intention of adding to my holding as certain milestones were reached Bote- Biggtime related for the umpteenth time. Then, early in 2007 a friend at the golf club told me I had to fill my boots with Flying Pig Uranium and, as I didnt have any spare cash at the time and they were still going nowhere, I switched from Corac at 34p into FPU thinking that I could always get back in again if and when they finally started to move. One of the well rehearsed listeners then anticipated the next line - And the rest, of course, is history.

Yes, Im afraid so. BB droned on The next thing that happened was the Chinese market suddenly fell out of bed and I was so pre-occupied with the collapse of FPU and the rest of my portfolio that I didnt even notice that, while 99.9 % of the market was in full retreat, Corac had surged to a new high for the year. It wasnt until a year later when the companys Downhole Gas Compressors started to turbo-charge gas production in a number of fields by 30 40 % that I noticed the shareprice had soared to 2. I thought that the price would react and I could get back in again a bit lower down but the next thing that happened was that they surged to 3 and are now of course up to 5. In fact my broker tells me they could double again to 10 when the company hits its initial target of 1,000 installations. Better have another large one please Bert.

This little fable may be fictitious enough but it is designed to make a very serious point. As we have repeated on so many occasions, this is a share that could multiply by up to 30 times from its current level of 42p. What is certainly not fictitious is that Corac is so far on course to deliver everything we said it would since we first highlighted the company way back in April 2005 when the shares were 41p ! Small wonder that Bote Biggtime got bored and moved on to something else. Yes, thats right. After nearly 2 years of remarkable progress by the company, the shares have advanced by precisely 1 p!

So, anyone buying now is paying 1p more for the fact that Corac has already got 2 worldwide licensing deals for individual versions of its core industrial compressor technology which both improves efficiency and cut costs. More are rumoured to be in the pipeline and this side of the business alone should underpin the companys current value of 32 million and they havent even tackled the multi-billion pound refrigeration market yet.

However, it is Coracs Downhole Gas Compressors that are really catching the imagination of the companys small but growing band of savvy enthusiasts. This is a string of sausage-shaped compressors that are narrow enough and robust enough to be inserted a mile or two down gas wells with a calibre of just 7 in order to suck out gas from reservoirs suffering from poor or depleted natural pressure. This ability has always been the Holy Grail of the natural gas industry and Corac is now within sight of achieving it. Final testing at the old Bluestreak rocket test site in Cumbria appears to have been successful enough for the company to advertise for a project engineer to oversee one of the first real-life field trials involving travel to Spain and Argentina. This clever bit of detective work by a company follower on one of the bulletin boards has been elaborated upon by someone pointing out that one of Coracs major joint- venture partners in the DGC mission is Spanish oil and gas giant Repsol who are also responsible for operating the giant Loma La Lata gas field covering 768 square miles of Argentina and accounting for 30 % of that countrys total gas production.

Repsol has been struggling with pressure problems at Loma since 2001 and, if this is where Coracs downhole compressor is to make its international stage debut and is successful, then production should soar and many of the 200 wells covering the field could be shut down saving operating costs. Remember, even a 10 % hike in output at Loma is equivalent to a 3 % hike in total Argentinian gas production. The numbers are mindblowing when one considers that these compression units only cost about 1 million each. It may be petty cash to Repsol but it will be jackpot time for Corac. At any one time an estimated 100,000 gas wells around the World are suitable for downhole compression and the company only has to get 1 % of this or 1,000 units p.a. to be a billion pound turnover concern with a similar market value. It will clearly take 2 or 3 years to ratchet up to even this level of production and to train hundreds of field engineers how to install and operate the equipment but patience appears to be a prerequisite of the genuine Corac enthusiast. At the end of the day, the Downhole Gas Compressor represents a remarkable triumph of British engineering which, provided there is no last minute showstopper, should repay investors in spades. Some sausage, some sizzle !!

things look like they are really hotting up with Corac
Two rns announcements after the close, seems like the institutions are getting on board

They look set to go very much higher,imo.

Certainly do NL.

Fairly heavy volume today.

Wonder if its been tipped?.

http://www.worldwidebb.com/news.php?id=latestnews&cast=367

21.06.2007 - Lift - off at Last ???

Over the last couple of years we must have devoted more column inches to the little known CORAC than to any other company in the small cap sector. In pure shareprice terms, it has spent a long time going nowhere and anyone who is still hanging in there with a holding deserves a medal. However, we remain more convinced than ever that patient holders will ultimately be rewarded with the Stockmarket equivalent of a DFC with Bar, a view just endorsed by the totally unexpected arrival on the share register of heavyweight institutions Gartmore ( 10 % ) and Credit Agricole ( 4 % ).

The explosive potential of CRA has already been well documented here but newcomers can catch up by checking out News Archive 10.01.07 when we again selected the stock as one of our 3 Shares of the Year. Of the other two, Halladale , tipped at 166p, was taken out for cash at 225 p almost before the ink was dry while Vialogy, tipped at 5.5 p , has already doubled to 11p after briefly flirting with the 15 p level. But never mind, you small Band of Corac Brothers, you SHALL go to the ball !

What has hitherto acted as a major restraint on the shareprice keeping up with events within the company itself has been the presence of a short term but significant shareholder by the name of Sofaer. This largely anonymous organisation appears to be one of those predatory funds who, rather like the panel in Dragons Den, take a punt on early stage investments in return for at least a pound of flesh. When Corac was just starting out in life and running short of finance, Sofaer jumped in with a few hundred thousand in exchange for new shares at around 3.5 p. Ever since then, with the shareprice making solid progress, they have been arbitrarily offloading stock for a tenfold profit presumably to finance similar new vulture opportunities elsewhere.

Whether or not the Sofaer light infantry are now totally out of the picture or are still hanging on to a residual shareholding is now pretty well immaterial with the arrival of the aforementioned big guns. The significance of this has not been lost on the market who quickly ran the price up from 36 p to 48 p on the news. Even at this level, Corac is still only valued at some 36 million which means that Gartmore and CA must have delved very deeply into the company and discovered what we have been banging on about all along. When they buy this quantity of stock they have to be pretty certain that the market capitalisation is likely to appreciate several times over so that they can secure an exit route. Otherwise they risk being stuck in a virtually illiquid situation.

What has doubtless attracted both institutions is that, in contrast to most Blue Sky situations where shareprices tend to be hyped up way ahead of actual profit delivery, Corac has been the model of understatement. This has been partly down to Sofaers dripfeed handling of its share sales but is also due to the fact that the companys brokers and financial PR people have hitherto adopted a surprisingly low key approach given the terrific potential.

All this now looks as though it is about to change. The companys virtual re- invention of the humble compressor has already attracted the attention of manufacturers from all points of the globe who are always striving to cut energy usage and boost efficiency. Initial orders are being received and these should escalate substantially over the next year or two. Corac is still essentially a small design and engineering operation whose staff would be hard pressed to stage an office cricket match. Therefore, the bulk of licensing income will flow straight through to the bottom line.

Putting our heads on the block, we would venture to suggest that annualised revenues from industrial applications could comfortably rise to 25 million by 2009 which would justify the current shareprice on its own. However, this is just the first component of Coracs 2 stage orbital vehicle. If industrial sales represent the initial booster rockets, it is the companys revolutionary Downhole Gas Compressor which will likely blast revenues into hyperspace. This device should indirectly prove a godsend to gas consumers the world over as it could hoist recovery rates from a fifth of all existing gas fields by up to 40 %. Final trials and modifications are taking place appropriately enough at the old Bluestreak test facility in Cumbria. Next year, this miracle worker is scheduled to be deployed into actual field trials by Coracs giant partners, Repsol, ENI and Conoco Phillips. This trio have already funded the programme on extremely generous terms but are still prepared to pay practically the full market rate for the units they will need for these trials.

At around 1 million a pop, even this initial handful of units will provide useful revenue to a company which has yet to post seven figure revenues. However, the real significance lies in the fact that, provided the DGC does only half of what it says on the tin, the road to multi million pound sales will open up. Remember, it will only take sales to scale up to 1,000 a year out of a total market of perhaps 100,000 for Corac to become a 1 billion company worth waiting for or what ?? !!

Corac strong again

I see they have featured recently in a DTI publication about maximising oil and gas recovery....nice!

http://ior.senergyltd.com/issue13/research-development/smes/corac/

Up 11% on the day so far.................. NICE.

Someone on another board says its been tipped this weekend by RHPS.

If thats the case it should be hot monday.