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.

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

On a technical view point, are they now finding some support at 286 level? Could be a bounce back from here, hope so I'm a holder. General market sentiment not helping much at mo though.

Yes, somewhere around the 280p mark should see good support. Would hope for a good bounce, though not sure I would be a holder for long after that. Difficult trading conditions for LAM atm.

s & H
re my previous posts
technically 320sh was also a strong support level, im still holding my 50% original from much lower.my stop loss is in. not reinstated yet. i agree with you both that this may be a good level to do so but being cautious i shall wait for confirmation of a good close above that 320sh level.
regards
and good luck
jkd

Any more thoughts on where this is going now? Sideways trading on the graph, with 200 DMA now supporting the 280p level.

H
i have no more thoughts on this. just still sitting and holding at moment.
waiting for it to develop further and maybe give me an indication of direction.
a good weekly close above the 320sh level would be encouraging but apart from that im just sitting tight.
regards
jkd

price seems to have been hovering around the 320sh level for a while. we seem to have 3x50% levels in play. reminds me of that grand ol duke of york. still holding . still waiting to add.
have to say down looks more likely to me at moment but could be wrong which is why i am still just holding and havnt added yet.as always just my opinion so please be sure to dyor.
regards
jkd

Still holding. Frustrating stock so volatile.