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.

Well done mj. I missed the spike this morning, as you say time will tell if I get another opportunity for a 40% profit. Will hold for the moment. H

latest trading update stinks! .... and extracted "taster" below ......

As a consequence of late delivery and other contract-related matters Lamprell has incurred further additional costs on both the Windcarrier 1 and Windcarrier 2 construction projects, which will adversely impact the forecast loss for the year ending 31 December 2012. Furthermore, a delay in client deliverables on a separate construction project has resulted in a deferral of revenue and profit from 2012 to 2013. There has been no deterioration in the project's expected financial performance, but the deferral will impact the 2012 financial results ...... the Company now anticipates that the loss for the year will be significantly greater than previously expected.



while MRSI is clearly a trader based on chart interpretation - and did well in/out here recently - if anyone allowed themselves to be suckered in long(er) term, i'm afarid they are going to take another bath this morning

Trading Update

John Kennedy, Chairman, Lamprell, commented:

"Lamprell's position in the refurbishment market remains pre-eminent. After three months with the Company I believe the fundamentals of the business continue to be sound and the order book and new contract pipeline remain strong. However, I am extremely disappointed in the need to make this latest trading update and feel that a refreshed management team will bring a more focused sense of delivery to all our stakeholders."

"The Company will provide a further update to the market when it has greater clarity on the detailed financial impact of these issues." Expect another lurch down when those figures are released then?

it is unlikely to bring succour to the suckers :-)

Nevertheless - there was money to be made this morning for the stupid nimble fingered - not me I should add!

magic is gone.

Further update will be appaling.

one can but hope .... he certainly had one of his typically offensive posts removed

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when i am spending some time in the office, i may well consider shorting this as i cannot see any good news on the horizon, unless someone decides the company is worth snapping up

cynic agree the shorting risk is with their NAV approximating the market value (net of intangibles) some wealthy arabs might seize the opportunity to make a bid.

LAM has a billion dollar turnover with a significant share of rig refurbishment business worldwide and high entry cost to any competitor. Tangibles are close to NAV at current share price. Trouble seems (to me and in simple terms) to be ability to accurately price bids and control costs during contracts. Debt is relatively low for a company this size imo? Agree this looks a tasty takeover target and as management control seems to be the major issue, the share could turn around reasonably quickly if it doesn't go belly up first. I have made an initial small investment (as a sleeper for the future) using some of my earlier profits in LAM. Very high risk and please dyor. H

trick may be to short with guaranteed stop

BIG MOUTH >>>>>>>>> cynic
has spoken once too often with no idea of nothing as usual

posters often say ....... do the opposite of the " bed pan face " comment
Shares had reached 85p a couple days ago ( almost 20% up ), from the comment below at 72p offer


cynic - 04 Oct 2012 20:50 - 281 of 282
trick may be to short with guaranteed stop

have fun

I have mentioned before that he just does the talking, that's all.

at least MRSI generally posts when he has put money with mouth - not so in this instance i think - whereas of course hyleo never ever does

it is of course frightfully clever having the gift of hindsight or even prescience ..... i the case of LAM, i think it was ST that had an article discussing the the likelihood of LAM being taken over - that is to say Sunday 7th October, a few days after my own suggestion (and no i didn't) in post 281 - which no doubt goes some way to explain LAM's relative strength yesterday ..... on the other hand, sp has dropped back about 5% today

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looking back and as far as i can tell, sp was about 80p when i wrote post 281, so as at now, position is near enough b/e

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useful things facts, but never let them get in the way of a good story

re - cynic - 10 Oct 2012 17:51 - 285 of 285
looking back and as far as i can tell, sp was about 80p when i wrote post 281

a little lie as usual

share price was 72p offer at close of business on the 4th time of the post 281

unlike some around here, i am more than happy to stand corrected .... i was trying to determine the price from the "simpleton's chart"

TAKING A PUNT AGAIN THIS MORNING

reason:

Changing direction ( moving UP ) from recent movement down
Allways bullish when is with larger volume than usual
Indicators are on the rise from oversold

interesting thought, but can't work out where you think the next resistance (target) should be