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 will be in Abu Dhabi in early november. I might knock on their door and have a quick look round to see if all is well!

I guess no news is good news!

What do you reckon to that gap being filled sometime soon skinny? Might be worth a little dabble as there doesn't seem to be any bad news to spook the stock this time.

I'm cautiously optimistic - I bought in the 130's in Feb.

Nice one! So either way you are in profit. Filling the gap would just be cheshire cat territory!

Hopefully Harry - its been a good period for 'filled gaps' with TCG & CIU both doing just that in past few months.

AGM 27 May 2013 .

StockMarketWire.com
Investec has downgraded its recommendation on Lamprell (LON:LAM) to "sell" from "hold" as the new management team get started with the massive task of turning around the company"s performance. However, analysts at Investec believe that there are less risky recovery stories in the sector. Despite downgrading the stock, the City broker has increased its price target to 145 pence per share (up from 90 pence).
Separately, Liberum Capital downgraded its recommendation on the specialist engineering company to "hold" from "buy" (price target unchanged at 175 pence a share) in a research note for investors today.

Now, about that gap skinny..............? ;o)

What a difference a week can make Harry.

I sold half @164. 150 has been tested and held, so I'll hold the rest for now - although the FTSE is looking a bit ominous atm.

This stock is on the rise today, maybe after all the low has been reached

Patience might pay off after all some were saying, yes if you bought well above yesterday's price

Refinancing of Debt Facilities

Lamprell (ticker: LAM), a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, is pleased to announce that it has signed binding commitment letters and detailed heads of terms for the arrangement of a new secured banking facility with a reduced number of five core lending banks. This new arrangement significantly simplifies the Company's lending structure and rationalises the covenants to a common basis.

The new US$181 million facility arrangement is comprised of a US$100 million term loan ('Facility A'), a US$60 million term loan ('Facility B') and a US$21 million revolving credit facility ('RCF'). All are scheduled to mature in June 2016 although Facility A amortises over the loan period and Facility B is subject to a one-year optional extension.

The new facility will replace the Group's existing funded facilities and will sit alongside the continuing bilateral unfunded facilities, which are used for the issue of bonds and guarantees. This arrangement is subject to final documentation and to a number of conditions precedent, which are expected to be completed in June or July 2013.

The blended average interest margin for Facility A, Facility B and the RCF is estimated to be 6.7%. Facility B interest costs increase incrementally from July 2014, however, upon repayment of Facility B, the margins in Facility A and the RCF will reduce. The new facility will contain a more suitable covenant package for the business, including gross debt to EBITDA, interest cover, net worth of the Group and annual capital expenditure covenants.

The financial terms for the new facility arrangement have been factored into the Group's forecasts for 2013 and therefore the Board maintains its expectations for the full year.

Liberum Capital Buy 149.00 142.50 175.00 175.00 Upgrades

Which sadly wouldn't close the gap up!!!

Some contract news needed methinks.

> gap up?

I can't see any gap, just share price drop and now bouncing back

See post #436.

Harry - Not trading it to much golf and bowls on the go, may be worth a punt on the spreads though if your feeling lucky. The only gap I can see is up at 167ish to 170.0 which would explain Lib Cap target of 175.0.

Limit order long @ 152.0 (just above 50DMA) initial target 170.0 stop 147.0, you feeling lucky? :O)

Yes, this is the discussion skinny & I had a while back. How far can you realistically go back and expect a gap to be filled? We thought 13 months was perfectly acceptable! ;o)

Obviously I'm talking short term, gees 13 months, lifetime. :O)