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.

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.

the trouble is that they are very much the baby brother to the likes of PFC ..... LAM actually has a very set-up in dubai, and while i was there, they were moving out 2 rigs that they had just completed

Hi cyners can you expand a bit please your the oiley expert you know I havent a clue about them.

not sure what you want to know ..... it's an engineering company specialising in the building and refurbishment of rigs ..... their yard is in JAFZA aka Jebel Ali Free Zone and just across the road from the docks

StockMarketWire.com
Lamprell has won a jack-up rig contract from Greatship Global Energy Services.

The contract is for the construction and delivery of a completely outfitted and equipped, LeTourneau designed, self-elevating mobile offshore drilling platform of a super 116E (enhanced) class design.

The rig is designed to operate in water depths of up to 350 feet and will have a rated drilling depth of 30,000 feet.

Lamprell will fabricate the jack-up rig in its new yard in Hamriyah.

The project is planned to be completed during the fourth quarter 2012.

im still holding. its still volatile. i still havnt topped up/reinstated my 50% yet but happy to see price at these levels.still watching and waiting.
regards
jkd

Shame I didn't have any spare cash a few weeks ago. Possibly a bit late now to be buying in?

Don't forget PFC. H, In the same sector and no SD to pay on purchase.

pfc is a much heavier stock of course, but that is the one i am currently holding ..... i still rather like LAM, but it's not in the same league, though part of its attraction is that it just might be a t/o target at some time

StockMarketWire.com
Specialist engineering services provider Lamprell has agreed a 208.1m deal for Maritime Industrial Services and raising 139.4m through a three-for-10 rights issue.

MIS, with its principal operations based in Sharjah in the UAE, is a diversified engineering and contracting group focused on the energy sector.

It offers a range of engineering and contracting services to the oil, gas and energy industry spanning the hydrocarbons delivery chain, from exploration drilling through to delivery to downstream customers.

Lamprell believes the acquisition offers significant benefits and opportunities, including:

* Providing complementary business areas, particularly in onshore service offerings

* Enhancing in-house engineering capabilities

* Adding extra capacity and resources

* Adding a number of established businesses in target geographies

* Providing an enlarged customer base with a wider service offering

* Consolidating Lamprell's position as a regional market leader in the rig market

* Achieving cost and revenue synergies between two highly complementary businesses

Results of Extraordinary General Meeting

The Board of Lamprell announces that, at the Extraordinary General Meeting held earlier today, the Resolutions to approve the acquisition of Maritime Industrial Services Co. Ltd. Inc. ("MIS") and the Rights Issue, details of which were set out in the notice of Extraordinary General Meeting included in the prospectus and circular regarding the Company dated 19 May 2011 (the "Prospectus"), were duly passed without amendment on a show of hands by the requisite majority of shareholders present.

down 14%

Lamprell issues the following update in relation to its ongoing new build projects.
Having substantially completed the detailed design phase of its fixed price windfarm liftboat projects, two currently under construction for Fred Olsen Windcarrier and one liftboat under construction for Seajacks 3 Ltd, the Company anticipates making a provision based on the cost to complete amounting in aggregate to USD 14.3 million. The vessels remain on schedule for delivery to the respective customers in 2012. This provision relates solely to these contracts and arises primarily as a result of increased labour requirements and additional material and subcontract costs. We are confident that similar issues do not affect our other ongoing projects.

Notwithstanding this provision, the Company believes that its net earnings for the 2011 full year will be in line with market expectations, supported by the release, in accordance with its normal accounting policies, of certain contingencies held in relation to rig projects, the successful resolution of a dispute with regards to a major MIS project, and increases in the scopes of works on existing contracts.