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.

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

After the rise and consolidation around 76p, this afternoon has risen again to reach yesterday's intraday high 78.75p ( lost almost the lot after the downturn of the market on the afternoon )

so far so good, but what's your target level?

Short term from British Bulls tonight .........

BUY CONFIRMED
LAM 78.750 +4.7500 +6.42%

Candlestick Analysis
Today’s Candlestick Patterns:
Long White Candlestick

Today a Long White Candlestick was formed. This shows that the prices advanced significantly from open to close during the day under strong buying pressure.

cheeky boy! ..... you don't answer the question

Another 1p up on a strong finish and on a very ugly day in general

mj - it really is a great shame that you do not complete your interesting chart analyses by giving the punch line - i.e. "with a target of ....." ..... it really does rather devalue the whole

and another 2p up, on a bad day for the market

and your target is????????????????
90p? ..... 100p ..... more????

using my "moron's chart/brain", i would hazard that the next resistance is 90p, and if it gets to 100p, then you have done very well indeed - or got very lucky if you want to be cynical :-)

I'm surprised these haven't fallen further this morning.

looks to be a much stronger bid book, so perhaps bears taking profits

MJ - this is one of your stable, albeit that you are of the day/short-term trading clique, so what's your take now?

Now back in auction up 9%!

Bullish engulfing flag with good volume.

very curious ..... ghastly figures and, having been marked down 10% at the open, they are now fizzing ..... 2 obvious possibilities

Why share price is recovering?

easy

cos recovery on the business is on the cards, kitchen sink and old directors out, new ones to fix it in

UPDATE - Lamprell increases loss estimates

Diversified engineering and contracting services provider Lamprell expects a total projected loss of $105m this year.

The company says the loss before interest, tax, depreciation and amortisation will be in the region of $64m.

It says this increased estimate has arisen as a result of additional losses and delays or deferrals on a number of individual project.

But Lamprell expects 2013 to be a recovery year.

It says revenues will be broadly flat compared to this year with a gradual return to profitability.
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Lamprell (ticker: LAM), a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, issues its latest Interim Management Statement in accordance with the EU Transparency Directive, which also provides a trading update in light of the previous announcement on 3 October 2012. The statement covers the period from 1 July 2012 to date.
John Kennedy, Chairman, Lamprell, commented:

"Over the last month or so, the Company has worked closely with external consultants to assess more accurately the potential impact of the underperforming projects on the Company's financial performance. This review has revealed a much greater loss for the year than previously announced or anticipated, and naturally I am very disappointed. However, having now identified the issues and their potential financial impact, the Group is in a much better position to draw a line under these events and to take appropriate steps to mitigate or address the issues. The Group also is keen to focus on new projects which are more aligned with its core competencies.

The outcome of this review vindicates the Board's earlier decision to restructure the management team. In so stating, it is also important to re-affirm that the fundamental, underlying strength of the Lamprell business and its on-going competitive advantage in the marketplace is as strong as it ever has been. The bidding pipeline remains highly active and the Board has full confidence in the new management team, with the assistance of the wider dedicated and capable workforce, to take robust action to see that the performance of this Company fulfils its significant potential."

Key points for the relevant period
-- Completion of review of major projects by external consultants validating the Group's revised financial position
-- Projected losses for the full year 2012 increase significantly, with a gradual return to profitability during 2013
-- Progress made in making new appointments to the Board and strengthening the management team
-- Initial management actions to enhance project control and improve broader risk management -- Discussions continue with lenders to obtain a waiver of certain of its year-end banking covenants and a reset of applicable covenants in Q1 2013

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