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.

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!!

some interesting market intelligence that may not bear out through all regions - e.g. west africa .....

"from an offshore drilling perspective, 2010 is predicted to be fairly flat but that 2011 will see all systems go."

even if that is so, then the various companies will still need to place orders for new rigs and refurbishment of old during 2010, which can only be good for LAM, though that is pretty much arabian gulf specific.

it is also (quite) possible, that aramco who pretty much control the oil industry over there, will suddenly decide (or be so instructed by the king) that they cannot continue to strangle the development of their oilfields, and thus turn on the taps earlier.

Cynic, I dont think that LAM just builds for the local market, I think its for the international market, the fpso was for the Italians, althogh cant remember the destination! Anyway, Panmure downgrades, price goes up! who are these jokers who make these reccomendations.

Did anyone see this article (with thanks to Old G on advf n thread) about Lammy building these 'boats'
http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article6860026.ece#

Yes, seen that on Lamprell's news section, as I say they build for the international market, so no boundaries and no limits for Lamprell. 200p will be testing though.

Can we have another downgrade tomorrow please as well, lol.

Think were ready for 200p!

Just do it will ya!

Very downbeat article in this week's Shares Mag, based on the fact that LAM's order book is heavily down from last year & though pipeline of tenders is encouraging, they still need to be converted into firm orders.
They suggest LAM is thus overvalued "stock has travelled too far, too fast in anticipation of a recovery" SELL

i would dearly love to see a full analysis of ALL Share Mags prognostications ..... my guess is that they are (far) more often wrong that right