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.

....and it should be a good indicator when they start to buy back in gain.

Or if they buy back in? personally never bothered with LAM in this sector as PFC have been so good along with their narrower spread and with no stamp duty.

Any chance of a bid at this level?

Closed @78.27 - I see Liberum have retained their buy note today, but dropped their TP from 179 to 176p.

In auction now @81.95 - I may have been a bit premature!

arguably so with hindsight, but given the gamble you took - for which congratulations also in hindsight - you should be smiling merrily to have banked such a decent profit

Thanks cynic - I can't help but think that there is more to come here.

Back in auction @90.4.

it's a couple of coppers below that and almost certainly just bears closing out ...... i would certainly not be brave enough to get in this murky water as you easily get badly mauled in either direction

LAMPRELL SUCCESSFULLY DELIVERS HULL 108

Directorate Changes.

.

in spite of sell opinion from "shares" rag sp up 20% today on appointment of new chairman.

Contract Award

LAMPRELL ANNOUNCES US$ 120.9 MILLION CONTRACT AWARD
Fourth Seajacks vessel to be built by the Group

Lamprell (ticker: LAM), a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewables industry, is pleased to announce that it has received a new contract award from Seajacks 4 Limited ("Seajacks").

The Engineering, Procurement & Construction contract,which is valued at US$ 120.9 million and subject to conditions precedent, is for the design, construction and delivery of a Seajacks modified Gusto MSC NG 2500X self-elevating and self-propelled jackup for offshore oil & gas and offshore wind turbine installation and maintenance operations. The vessel, named 'Seajacks Hydra', will be constructed at Lamprell's Hamriyah facility in the United Arab Emirates and will be delivered in 2014.

Tuesday contract award has got the share moving higher, taking them to the point of a posible Break out on the way, with a GAP to be filled up to 360p

Time to take some on board, as the appointment of a new Chairman last month, it seems is doing the rounds on the share price performance.

Just depends on whether they can address the "contract “slippage”, shortage of equipment and added costs it blamed for the profit warning". But probably worth having a small stake for the moment, imo.

got motoring this afternoon and at one point reaching 128p

Indicators starting to pick up here - just too late today.

another good day and close to the intrady high of the 19th
But is that the high for the moment being?
maybe, till further positive news

further slump today looks very much on the cards ..... all bad, the worst being warning of probable breach of covenants


Following the Company's Trading Update of 7 June, the Company has been undertaking a further review of its financial position and as a result has now revised its previous forecast. As a consequence of additional costs arising from the delayed deliveries of the Windcarrier 1 and 2 projects, the loss at the half year is expected to be approximately US$ 45 million.

In addition, an extension to the timeframe for achieving direct overhead and corporate cost savings that were previously anticipated will impact the full year result. Revenue for 2012 is still anticipated to be approximately US$ 1.1 billion. However, the Company now anticipates a loss for the year in the range of US$ 12 million to US$ 17 million.

As a result of these anticipated first half losses, Lamprell will be seeking waivers from certain of its banks in relation to its banking covenants.

Deliveries of equipment for the jackup drilling rigs that the Company is constructing are currently being received in accordance with the revised delivery schedules.

Yes it doesn't make for good reading - tin hat on.