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 only quote from their numbers! 15cents/share for first 6months, I assume thats about 10-12p, x2 =24p, they have $90m in the bank, $400m orders on the book and $30m profits. This company is in one hell of a state lol. pe/5.

Latest PE figure is 4.8, with forecast rise to 7.9, but forecast revenue & EPS figures heavily in to the minus range. Not surprising in the current economic climate.

eps and forecast are not minus, they are less than same time year last year but still highly profitable and a substantial order book, have you looked at the numbers?

confess i am happily amazed at the strength shown today, albeit that i now hold only a relatively small number

Apologies. They are down on current figures, thus I have described them as minus.
I should have said the figures are below the current year's.
Forecast EPS -38.4%, Forecast revenue -74.2%.

200p?

shouldnt be long until 200p

while the following RNS is/was very good for LAM, to my mind it is the more general and broader implications that are the more interesting - i.e. oil projects are being re-opened, and thus by implication, indicates growing optimism right across the global economies

LAMPRELL ANNOUNCES US$ 52 MILLION OF CONTRACT AWARDS
............ has received contract awards from three of its key customers, which in aggregate total US$ 52 million.

Nigel McCue, Chief Executive Officer, Lamprell said:
'We are delighted to be announcing these contract awards which illustrate the continuing demand for our services. The contract with Saipem is our first FPSO award since July 2008 and reinforces the confidence we have in the long-term viability of the offshore construction market both for fixed and floating structures.

What annoys me is "inside" information, the price took a tumble, only small, but nonetheless somebody new(the city!) an announcement of some sort was coming, somethings never change.

Cynic, I work in the Oil and Gas industry and UK gas infrastructure projects are on the up and up, abu dhabi/egypt/alegeria are all very steady to ramping up investment as for the big oil companied at the current oilprice they can rake back alot of money on exploration and production. Just going to see ahts happening with Wood group/petrofac etc, amec could also start to benefit again.

Thanks for that bit of info E.

so am i though slightly indirectly and we have felt for the last few months that things were on the move pretty much worldwide ...... significant increase in serious enquiries though hard to get the clients to marry money to mouth still

BP/Exxon/Shell etc as far as I know always use banks cash for investments, never their own! ie they borrow and leverage, the money is coming from somewhere, has to be the banks, so money is coming through. For example the SAIPEM is a large international contractor, EPC, these guys will have overal contract responsibility so I dont know where the FPSO is going to but Saipem must have a huge overall contract funded from banks and investments somewhere. Also, the other lamprell contracts are new drilling rigs(exploration) and refurbs, increased exploration!! money is flowing into OIL and Gas IMO.

and thus by extension, economies are starting to revive

Its happeing, 2 years nearly of tightening the belt, could be a surge?

This will cross 200p imo soon. Could surge also, 250-300p looks possible.

Just to clarify, eps for the year could be near 30p, pe of 8 = 240p, 10x 300p, amec/pfc etc although more service driven than epc construction are on higher x's.

With a wing and a prayer if they announce more deals, 35p is a long shot possibility for this year = 350p. In other words, the recovery could provide a bug upside for Lamprell and I see this going into the 200's first with some ease?

i hold these from much lower down and have added since my original purchase.
a pull back from here is not out of the question. lets try to not get too over enthusiastic and too overcommited or we may find ourselves unable to sit thro the pullback, should it occur.without getting too emotional i.e, scared out of our long term position.although there is nothing wrong in taking a profit or partial profit, and adding again later.all just my opinion
regards
jkd

I had 24peps for year as it is with current numbers from recent results, the latest announcement makes it even better long-term, but you are right about the pullback, but what about historic high's?

New support levels at 150's, should still push to 200p to test, if it slips through then we know it will retest 170/180's where we are near/at now. Overall 240p is near-term target ie xmas. Not massive but steady, more deals will push it on though to 300p which is my optimistic target by Xmas!!