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Lamprell Group (LAM)     

Andy - 19 Feb 2008 16:22


Chart.aspx?Provider=EODIntra&Code=LAM&Si

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.

skinny - 18 Oct 2013 07:04 - 489 of 709

Scroders 12 --> 13%

skinny - 22 Oct 2013 12:24 - 490 of 709

Looking at 160p.

cynic - 22 Oct 2013 12:30 - 491 of 709

it's already there

skinny - 22 Oct 2013 12:32 - 492 of 709

It worked then! :-)

cynic - 22 Oct 2013 12:34 - 493 of 709

but this is still less than 1/2 of all time highs, but even ignoring that, i wonder if perhaps 180 is a realistic short-term target - or is it already too far too fast? .... hmm!

skinny - 22 Oct 2013 12:40 - 494 of 709

I'm hoping for 175-180, trading statement next month I believe and if we reach that level before then, will certainly sell some.

HARRYCAT - 22 Oct 2013 12:41 - 495 of 709

Not great volume which is a bit disconcerting.

cynic - 23 Oct 2013 08:45 - 496 of 709

have taken my profit at 159.25 as market is looking to take a breather

skinny - 23 Oct 2013 14:35 - 497 of 709

New 3+ month high 163.50p

ontheturn - 23 Oct 2013 16:34 - 498 of 709

did someone panic this morning?
MMs got their reward on marking down the stock early on the morning cheap stock on their books, finished at best of the day 164.75p

Chart.aspx?Provider=Intra&Code=LAM&Size=

skinny - 23 Oct 2013 16:35 - 499 of 709

I think it will uncross higher than 164.75p.

On edit UT @165.75p

cynic - 23 Oct 2013 18:29 - 500 of 709

hardly a panic ... i had a good profit and reckoned the market would consolidate .... never ever forget that no one ever went broke taking a profit and i'm more than happy .... i may or may not buy back in in due course

skinny - 08 Nov 2013 07:07 - 501 of 709

Delivery of Caspian Sea rig

DELIVERY OF CASPIAN SEA JACKUP RIG


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 successfully completed and delivered the first of two Caspian Sea jackup rigs to the client, marking another significant milestone for the Group. The rig has now been delivered to the client and was recently towed out from the Astrakhan re-assembly yard to commence operations on its first contract elsewhere in the Caspian Sea.

The Group is making good progress in relation to the on-going second Caspian Sea project, which is already well under way and is expected to be delivered in Q4 2014. The first two module shipments have already been transferred from the Group's facility in Hamriyah to the Astrakhan yard as planned and on time.



James Moffat, Chief Executive Officer, Lamprell, said:

"We are pleased to have completed construction on the first of two jackup rigs for use in the Caspian Sea region and to have delivered it to our client meeting our usual high build quality. The project has been highly complex as a result of the new approach for delivery, with modular fabrication, assembly and disassembly being undertaken in the Group's Hamriyah facility, transfer to the Caspian Sea region and then re-assembly in a yard in Astrakhan. The successful delivery has only been possible as a result of the dedication and the close collaboration of Lamprell and the client teams."


- Ends -

skinny - 14 Nov 2013 07:01 - 502 of 709

Interim Management Statement

Summary and outlook

The Group has continued to make good progress and performance for the year ending 31 December 2013 remains in line with our expectations.

Operational update

The Group has performed well during the period and our portfolio of projects is progressing well. We have continued to build on our existing strong track record in safety at our facilities in the Hamriyah, Sharjah and Jebel Ali facilities. The Group has also introduced a number of initiatives in order to improve efficiency and to maintain a tight control of costs.

Further, Lamprell has successfully completed several of its key projects. We delivered the first Caspian Sea jackup rig to the client during the period, marking another significant milestone for the Group. The Group has also delivered the final set of modules to the client for use in the North Sea sector. These modules were completed on schedule and to a high specification.

We also completed and delivered the "Jindal Star" jackup rig, a LeTourneau Super 116E (Enhanced) with a self-elevating design, to the Jindal group for use in the offshore India sector. The project was completed without any lost time incidents and represents the 13th new build jackup rig that Lamprell has delivered.

In August we were awarded a new contract by Greatships for the construction of a Super 116E jackup rig. This is the second such rig for Greatships. The first was delivered in January 2013.

In September we were awarded a major rig conversion and refurbishment contract by Millennium Offshore Services group (MOS). The contract relates to the conversion of the "MOS Frontier," a three-legged Type MLT116C jackup rig.

Financial position

Our net cash position at 30 June 2013 was US$151m. As expected, the net cash position will trend downwards towards the year-end in line with the normal project cycle.

Board

On 1 October Joanne Curin took up her role as Chief Financial Officer for the Group and as an executive director. As announced previously, Frank Nelson has now retired.

Outlook

We continue to see high demand for our core services with a strong pipeline of opportunities. The Group's order book at the end of October was valued at US$ 1.0 billion (30 June 2013: US$1.1 billion), predominantly comprising the on-going construction of eight new build jackup rigs, with the bid pipeline remaining at a high level of approximately US$ 4.6 billion (30 June 2012: US$ 4.6 billion). Our outlook for the year ending 31 December 2013 remains in line with our expectations.


Jim Moffat, Chief Executive of Lamprell, commented:

"We are pleased with the progress that Group has made since the half year. Our project execution has been solid and we have again proven our ability to deliver projects to a high build quality and with a strong safety record. Looking forward into 2014, the Group will be delivering a number of major projects and will be focussed on managing these projects actively to achieve timely deliveries. In the meantime, we have won important new orders in our chosen markets and will continue to prioritise the conversion of our substantial pipeline into new orders."

- Ends -

Conference call:

A conference call for analysts and investors will take place at 8.00am this morning. The conference call can be accessed by dialling +44 203 059 8133 and pin code 1258097#. A replay of this call can be heard by dialling +44 20 3426 2807 and pin code 643701# later in the day, for a period of 30 days.

HARRYCAT - 14 Nov 2013 08:14 - 503 of 709

.

halifax - 14 Nov 2013 17:02 - 504 of 709

sp 151p IMS not viewed positively by the market down 5%.

skinny - 15 Nov 2013 08:33 - 505 of 709

JP Morgan Cazenove Overweight 152.75 151.50 175.00 175.00 Reiterates

black bird - 18 Nov 2013 09:00 - 506 of 709

follow the money prudential up stake 19-9-13 schroders to

ontheturn - 04 Dec 2013 16:40 - 507 of 709

I di not up my stake cos I had none
but I got some late on the day, had in mind to do it last week around 145p so I done it today, just about one 1p more

All the TA looks positive at this stage mainly the MACD

Chart.aspx?Provider=EODIntra&Code=LAM&SiChart.aspx?Provider=Intra&Code=LAM&Size=

ontheturn - 09 Dec 2013 14:37 - 508 of 709

Trying to move forward today after going sideways for the last couple days
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