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 - totally unsupportable personal allegations

every time a share price rise ..... ( bought yesterday,) no honesty and decency is what you have not got ............. ( and it is very rare for me to post like that after the event,)
you are doing it all the time

FACTS
from the BAO thread

cynic - 02 Feb 2011 10:56 - 60 of 66
glad i bought back in yesterday - provable if the wankers start questioning my honesty again! .....

cynic - 22 Feb 2013 13:04 - 393 of 419
and so i did, later that day at 28.75, though relatively modestly ..... yes, i know i kept that one quiet as i was unsure whether or not it was a smart move

dreamcatcher - 22 Feb 2013 20:56 - 396 of 419


cynic - 22 Feb 2013 21:11 - 397 of 419
i have no need .... i own up to mistakes, and assuredly this was not one - read 392

dreamcatcher - 22 Feb 2013 21:37 - 398 of 419
I'm only joking but it could be read that you were thinking of shorting (post 392).
Then post (393) some three days later if you shorted later that day, your post states you indeed shorted . The day of this post the share happens to lets say crash after the three days before were fairly modest falls. It can be read this way, not that I am reading it that way. In other words not to be picked up about it, would be best would it not, to post ones actions not three days later?

dreamcatcher - 22 Feb 2013 23:04 - 400 of 421
Very fair what I have written . Put it another way - An oil company is a few days away from TD. I come on the thread and say I might come in on this one. Three days later no oil found, the share crashes. Then when I'm asked, I say no did not come in in the end.
Then the same again on another oil company near to TD. I write I may come in on this one. A few days later they announce millions barrels of oil found, the share races north. I then write on the thread I was in. How long can I do this before questions are asked. lol

cynic - 23 Feb 2013 09:22 - 401 of 421
it's ok DC .... obviously a bit tetchy yesterday :-)
you're right, and it is very rare for me to post like that after the event, but i was just (too) pleased with myself for having made another correct call

from the PFC thread .............

cynic - 26 Sep 2012 17:25 - 433 of 507
i confess i bought back 1/2 of this morning's sell at 1580 and now keep my fingers x'ed that the market in general will bounce, which is likely to drag PFC along with it ..... sure as hell i wouldn't have dared short the stock at any point

and at XEL also a few
will ask the secretay to investigate

none of what i posted can conceivably be construed as lying - and nor is it - except by a bigotted and racist gnome such as yourself .... but if that is what you wish to believe, then you carry on and let the maggots continue chomping on your bile-laden pancreas and liver

The court that you prepare the papers for, found you GUILTY of all the above

Your vile tonge found its place again
just because someone has explose you once again

stop spiting as you are posting
the serpent has not got any venon left

All what you been posting is lies
407 post is the evidence .........GUILTY

take him down

                 

Where are the men in the white coats?!

i really don't know .... he can just about manage to stay civil for 2 weeks and then he's back to his customary, tiresome and boorish abusive self

ian must be getting as bored as the rest of us with removing him and his various aliases (MRSI, MJ etc etc)

it's a pity that he's such a paranoid fruitcake, as his pretty pix and comment are often worth a read even if discarded afterwards

The lynching family comes to help

where is the second one?

no no no .... the men in white coats are the medics with a straight-jacket for you, not Klu Klux Klan

A little bird has told me...he is coming for you

true islam is a most accommodating and tolerant religion, even encouraging the education of women ...... it is only the fundamentalist mob who have hijacked the "real word" and distorted it to suit their own (political) ends

Wise words from cynic as usual. We all know you are very religious and read the Quran and also sometimes extremely vulgar and corrupt (see BARC thread)

It seems is not only a LIAR but as a good "cynic" lets his tonge go wild and then blame the others and start early on the morning, sign of getting out of bed on the wrong side they say.

Conclution
BARSTERWARD of a funny origin and more yet funny religion what do you expect.
A GRASS and do not forget a STALKER aswell
Glad to exposed such a person

For the record from the BARC thread...........

cynic - 25 Mar 2013 20:07 - 1134 of 1138
hyleo - am i not correct in thinking that you regularly shout SELL, SELL, SELL from the rooftops but lack the balls ever to stick money in your gaping orifice?

hlyeo98 - 26 Mar 2013 08:29 - 1135 of 1138
Are u saying BARC a buy then?
I think you are the most vulgar and uncivilized person on this forum.
Certainly tells a story of your upbringing.

cynic - 26 Mar 2013 08:35 - 1136 of 1138
no - i'm neutral on banks ..... and just because you don't like what i write does not make me uncivilised (please learn to spell in the english manner!) ..... btw, i assume that what i wrote above was absolutely true, for assuredly you do not dispute that i reckon you're all mouth

hlyeo98 - 26 Mar 2013 08:44 - 1137 of 1138
It does not concern you whether I buy or sell?
And you are forever sitting on fences with your neutral opinions.

cynic - 26 Mar 2013 08:50 - 1138 of 1138
not at all ..... i have a trading portfolio which is currently 16 strong; sometimes it's a bit bigger and sometimes a little less and i keep an watch on about 40/50 stocks/indices

however, and i'm more than happy to repeat, you're all mouth and trousers

you two are very lucky .... you are so compatible, you can ride into the sunset holding hands .... enjoy enjoy!

to me, combined you are less irritating than a single gnat's bite .... indeed, merely a couple of risible poltroons

Did any one else apart from that apparent wife of yours ... that you have answers for anything, that is the reason for her to keep you away from home.

re - you two are very lucky .... you are so compatible,

Is better to be compatible with someone I do not know, that live with someone that makes you sleep on the spare room and ...........

...a little bird told me, that you went back to the house the other day ( forgot the glasses - thick like the bottom of a drinking glass) she (wife ) was already having tea with someone else and explaning what a relive it was when you are away.

Viva la vida ( a mexican will say ) but not the way you live yours

Word of Wisdom: "The early bird may get the worm, but the second mouse gets the cheese."


just found out is wanted also

RSI turned up - looking for another assault on 150.

DIRECTORATE CHANGES

Finally on the move.

nearly 4x usual volume ...... worth watching as no news out

Q1 Interim Management Statement this Friday 17th.

Mind the gap - 12 month high @181.25p

Interim Management Statement

The performance in the year to date has been in line with management expectations and, after the events of the previous year, we have made an encouraging start to 2013.

Financial

Overall, the Group's financial position remains stable and working capital continues to be in a healthy position. The Group's immediate priority is to complete its discussions with its key lending banks in order to restructure its debt facilities and agree revised covenants on a long term basis. These discussions are now in an advanced stage and the Company remains on track to complete the process by 30 June 2013. We will update the market in due course.

Operational update

From an operating perspective, Lamprell is focussing on its core competencies and on maintaining high standards of safety and quality. The various major engineering, procurement and construction projects currently under way in each of Lamprell's three large facilities in Hamriyah, Sharjah and Jebel Ali (all in the United Arab Emirates) are progressing according to plan.

Lamprell has a pre-eminent position and well-established track record in rig refurbishment projects in the Middle East. In the year to date, the Company has worked on a total of 11 jackup rigs, two of them in our Hamriyah facility and nine in our Sharjah facility, covering the full range of its repair, upgrade and refurbishment services.

In February 2013, a new contract was awarded to Lamprell by the Jindal group, a key existing customer for the Group, for the construction and delivery of a LeTourneau designed, self-elevating Mobile Offshore Drilling Platform of a Super 116E (Enhanced) Class design. The contract also includes an option for Jindal to order a second jackup rig.

Also in February 2013, Lamprell successfully delivered the wind turbine installation vessel, Windcarrier 2 "Bold Tern" to the client, Fred Olsen.

Our safety statistics for the year to date continue to show improvements on those for 2012. The Group will strive to build on those improvements throughout the rest of 2013 and will provide details at the time of announcement of the 1H financial statements.

Corporate

There have been key changes to the management team with James Moffat joining as the new Chief Executive Officer (CEO) on 1 March 2013 and with Frank Nelson being confirmed as Chief Financial Officer in late March. Mr Moffat and Mr Nelson have both been appointed as executive directors on the Board. Peter Whitbread (the former interim CEO) continues on the Board in an executive role. The Group has also recruited Niall O'Connell as the new VP Projects in order to strengthen the Group's project management structure.

The Board has progressed well with the recent appointments of Michael Press, John Malcolm and Ellis Armstrong as new independent Non-executive Directors effective as from 27 May 2013. As announced previously, Deena Mattar, Colin Goodall and Jonathan Silver have decided to retire from the Board of the Company effective from the end of the upcoming Annual General Meeting.

In late March, the Company confirmed that it had concluded a settlement with the Financial Services Authority ("FSA") in relation to the FSA's investigation into the Company's handling of inside information, as previously announced. The Company made provision for the settlement in the 2012 accounts.

Outlook

The Group maintains a substantial order book extending to Q1 2015 which at the end of April 2013 was US$1.2 billion. The Group's bid pipeline at the end of April was in the order of US$4 billion, which is viewed positively against the backdrop of a robust industry landscape.

In light of the above, the Board believes that the Company is well placed to achieve its primary goal of refocusing on Lamprell's core business and accordingly the Board reiterates its earlier guidance for 2013. In the longer term, this will enable the Group to develop its competitive advantage which historically has been founded on high quality of workmanship and timely execution for those types of projects.


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