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.

CONTRACT AWARD


Lamprell (ticker: LAM), a leading provider of diversified fabrication, engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, is pleased to announce that National Drilling Company ("NDC"), Abu Dhabi, has exercised one of its existing options and awarded a contract to Lamprell for the construction and delivery of a high specification jackup drilling rig. Lamprell has previously been awarded contracts by NDC for a series of eight rigs and this ninth rig will be of the same design. The LeTourneau-designed, Super 116E (Enhanced) Class mobile offshore drilling unit will be constructed at Lamprell's facility in Hamriyah, United Arab Emirates (UAE), with a planned delivery in Q2 2017.

As previously announced, NDC has further options for Lamprell to build up to an additional two jackup rigs of the same design, which have been extended to 3Q 2015.

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JP Morgan Cazenove Overweight 133.75 131.00 146.00 Reiterates

Uncrossed at the high for the day @145p

Uncrossed at excellent volume as well so may be sign for tomorrow

Sold half mine today at various prices from 139 to 143.5. Not intending to sell anymore unless prices moves significantly higher.

Don't like the look of the market generally and happy to take something off the table for a while.

As things stand, an excellent daily candle and good volume - looking for that Numis target :-)

Agm tomorrow.

Could it be that someone knows something and wanted in before the Agm?

Directorate Change

Lamprell (ticker: LAM), a leading provider of diversified fabrication, engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, announces that Peter Whitbread, non-executive director, will be retiring with immediate effect. Accordingly, Mr Whitbread will not be standing for re-election at today's Annual General Meeting.


John Kennedy, Chairman, Lamprell, said:

"It is with regret that Peter Whitbread has informed the Company of his intention to leave the Group for personal reasons. I would like to take this opportunity to thank Peter for his significant contribution to the Group since re-joining the Group in October 2012. Peter originally joined Lamprell in 1992 and was the architect of the Company that Lamprell finds itself today. After a career of approximately 18 years, Peter chose to retire having built and positioned Lamprell into a significant offshore contractor. When Peter re-joined the Company, he was instrumental in the recovery process at that difficult time and we have greatly benefited from his wealth of experience and industry-wide expertise. On a personal level, I wish to thank him for his commitment and counsel. The Board wishes him all the best for the future and I know that our major shareholder, Steven Lamprell, is especially appreciative of his efforts and input since 1992."

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RESULTS OF 2015 AGM


At the Annual General Meeting of the Company held at 10.00AM (local time) today at 7th Floor, Jumeirah Emirates Tower, Sheikh Zayed Road, Dubai, United Arab Emirates, all the resolutions set out in the Notice of Annual General Meeting ("AGM Notice") published by the Company on 2 April 2015 were duly passed except for resolution 5 which was not put to the meeting in light of the announcement from earlier today that Peter Whitbread would not be standing for re-election.

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ttt for no other reason that for the technically minded it looks like the 50ma will cross the 200ma in about 2 weeks.

Consolidating nicely on good volume

and the green line crosses the black line and finally we seem to have spent enough time consolidating at 150 and are back to testing 155

Ironically I've just upped by sell order.

I appear to be out of these now!

I'm out today as well. It looks overbought on a short term time frame and I'm getting very nervous over the state of the FTSE.

PRE-CLOSE TRADING UPDATE


Lamprell (ticker: LAM), a leading provider of fabrication, engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, issues the following pre-close trading update for the period from 1 January 2015 to date.

The Group is on track to deliver results for 2015 in-line with previous guidance. The Group has continued to see strong operational and financial performance in 2015 with the delivery of three major projects during the first half of the year. The measures to improve business efficiencies and reduce overheads across the Group are moving ahead as planned and all ongoing major projects are progressing well. There are currently six jackup rigs under construction in the Hamriyah facility and this will increase to seven concurrent rig construction projects in 2H2015. The piperack modules construction project for Petrofac, which is being undertaken in our Jebel Ali facility, is progressing well with initial modules to be delivered later this year.

Following the announcement on 2 December 2014 and satisfaction of the conditions, the Group completed the disposal of one of its smaller non-core service businesses, Litwin PEL LLC, in April.

In April, Lamprell announced the award by National Drilling Company for another new build jackup rig, the ninth in a series of such rigs. NDC has further options for Lamprell to build up to an additional two jackup rigs of the same design, which run to 3Q 2015. In addition, the Group continued to see demand for smaller projects in other core markets. Among these, the Group secured an order for five additional piperacks and one module for an existing client and a contract award for suction caps and buoyancy tanks from a new client. Both the rig refurbishment and the land rig services business units have seen steady starts to the year with several awards from new and existing clients.

As anticipated, we have seen customers delaying some project sanctions for discretionary capital spend but Lamprell's bidding pipeline remains strong amid the challenging market conditions as a result of its high standards of quality and safety, competitive pricing and market leading operational performance. The Group's focus remains firmly on the conversion of a range of substantial bidding opportunities in the coming months. A degree of uncertainty remains as to the impact of the market environment on the sector.

With the solid start to the year, the Company expects that the full-year financial performance will be in line with previous guidance. As previously indicated, the Group's results for 2015 are expected to be heavily weighted towards the second half of the year reflecting the phasing of project deliveries, with a number of new major projects ramping up during the second half of the year.


James Moffat, Chief Executive Officer, Lamprell, said:

"We expected that 2015 was going to be a challenging year but we have made good progress during the first half of the year, both in terms of delivering projects to clients as promised and implementing our efficiency and productivity programme. We have proven our ability to win new work in a challenging market environment and our bidding pipeline remains strong. We will continue to focus on maintaining our competitive position in the sector and remain confident of our ability to win our share of new projects."


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Canaccord Genuity Buy 152.50 151.00 - 180.00 Initiates/Starts

I've just had another stab here.

I hope your stab was short skinny?
Looking a bit dire atm, though declared short interest now very minimal.

Long closed Harry - without checking, I think I got out with 2-3 points.

Going nowhere atm - I've played with these and CIU for years - but currently!

A strong performance - probably on the back of the CIU update.