The Lamprell Group has played an important role in the development of the offshore industry in the Arabian Gulf for over 30 years, providing increasingly specialised services to the offshore oil industry. Lamprell is managed by British nationals, with its corporate headquarters in Sharjah, one of the United Arab Emirates, Lamprell operates a full service jackup rig refurbishment facility in Sharjah and a modern, well equipped fabrication facility in Jebel Ali Free Zone, Dubai.

Lamprell located in the most important oil and gas region in the world, in one of the key commercial centres in the UAE.

Lamprell has its own core skilled and experienced workforce as well as access to additional skilled labour from the local labour supply market.


AIM Rule 26 Disclosure

This, in addition to the Group�s safety focused culture and experienced project management skills, helps to ensure customer satisfaction is maximised whilst risks are reduced.

Lamprell has built up its strong market position by offering a differentiated service to its clients based on safe working practices and completing projects on time, on budget and to a high quality. Accordingly, we believe that the Company has established a position of sustainable competitive advantage in the region.

Nice rise pre ex-divi date:
WED 12/05/2010 Lamprell (LAM) Ex-dividend (2.55p)

thanks stan for directing me on the right thred.

.

lamprell my biggest under achiever, at last some good news.

i'm still holding
regards
jkd

got out at 250p nice, 11% profit.

regards irlee57

"Panmure Gordon reiterated its "buy" recommendation for Lamprell with a 290p target price, ahead of the oil and gas industry services provider's interim result next week. The broker expects the firm to report net income of approximately 19.8 million dollars (12.8 million pounds) which compares to 31.6 million dollars (20.4 million pounds) in the comparable period a year earlier. Nevertheless, Panmure believes that these numbers are relatively unimportant as the outlook is improving with the group winning three very significant life boat orders in the year to date. This should allow the firm to increase its order book from 633 million dollars (408 million pounds) to in excess of 880 million dollars (567 million pounds)."

what a nice surge this has had today - do hope harry and others are still on board (as am i)

Regrettably not! Lost confidence in all the oil supply companies. Glad to hear you kept the faith.

me too.
still on board and kept the faith, that is.
but only half so. is that allowed ?
regards
jkd

Hello, new high's

Is there a bid coming? no stopping it? at 25-30p p/e fair value is between 350-400p+, but it seems very bullish? maybe a takeover could be >500p

Is there a bid coming? no stopping it? at 25-30p p/e fair value is between 350-400p+, but it seems very bullish? maybe a takeover could be >500p

EVO TAKE The possible offers for Wellstream highlight the M&A potential for the oil service sector at this stage in the cyclical recovery

DETAILS Why now? sector fundamentals are improving with increasing IOC/NOC capex and a backlog of development projects. Earnings momentum is gathering pace with volumes starting to improve but pricing power has yet assert itself. Projects/contract sizes are getting larger and companies are looking for integrated offerings. Large oil service businesses are cashed up and looking for businesses to add to the geographic or technological footprint.

VALUATION AND RECOMMENDATION We highlight attractive businesses in a global context which could be interesting to large players. these include our key buys:- Hunting (HTG), Wood Group (WG.), Lamprell (LAM), Kentz (KENZ), Petrofac (PFC), and Hamworthy (HMY add)."

StockMarketWire.com
Lamprell downgraded to hold from buy at Deutsche.

Oops, profit warning.

This is only where it is because of share liquidity or lack of it as the case may be.

Where did you see a profits warning, dd?

StockMarketWire.com
Lamprell has won a $210m contract from Eurasia Drilling Co for a self-elevating mobile offshore drilling platform.

The rig is designed to operate in water depths of up to 250 feet and will have a rated drilling depth of 30,000 feet.

Lamprell will fabricate the jackup rig in modular form in its new yard in Hamriyah and then complete the construction and commissioning in a shipyard in the Caspian Sea.

Lamprell says it maintains a substantial order book extending to 2012 which at the end of October was approximately $725m, excluding the EDC contract.

The group said its financial position had not changed significantly from the end of June but cash and bank balances had improved largely as a result of additional customer advances.

Half way down "low end of expectations"

Ah yes, gotcha. Thanks. Interesting that they also emphasise the high amount of enquiries and bids that are being made, but not much indication of what %age are being converted into orders. They seem to have lost some of the rig refurbishment trade, but again not sure if this is just reduced demand or increased competition.
On my watch list as I still think it is a reasonably well run company.

i've been to their facility in dubai and they are indeed a well run company ..... however, i suspect they get rather beaten up by the likes of PFC who are large enough to bully LAM (and others) into taking low return contracts from them.

clearly the company is struggling somewhat despite the brave words, and perhaps the shareholders would be much better served if a bigger fish swallowed them.

however, there is certainly a lot of activity in qatar and i believe there are some big contracts up for tender for Q2 ..... whether or not LAM would have an interest in these, i really do not know