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.

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

share mag i lost on redstone 45%,viyalogy 30%,vyke close to 30% all were rec in share mag .they have some winnersbut the above shares i lost big stlye .
cynic share mag recomendations all over the place .
today vyke is recovering from low of 11 to 15 but bought them at 23.

it was more of a comment than anything else .... i always read and look at what they have to say, but am fairly circumspect about acting on same

I don't hold this stock atm, so I am pretty neutral, but interesting to see the hostile reaction to Shares Mag when they are bearish on a stock. Probably best to just see it as another opinion to add to the melting pot.

Let the chart be your friend? LAM are doing very well, eps of 20+p, possibly 30+p this year if they bag more contracts, they are solid for 20p+ in next 12months, how can share mag no what deals are to be done in 2010, the industry is set for mega growth in 2011-12, with such lack luster investment in 2008/9, the 5 year cycle will require new equipment "on stream" in 2013-15, these projects are 12 months in duration, LAM will strengthen during 2010 because they have held there own and got a good order book, I havent read the sharemag analysis but am thinking they are clueless.

ellio - i pretty much concur, and there is also the added possibility that LAM will be taken out

You read my mind on that one, profitable bolt-on for PFC/Wood Grp etc etc. My thoughts are someone may table 300p for LAM and rejected, this will push the price into this territory and interest will then be speculative from others with a further surge to 400p which will be on a high multiple of 15x+, from here we may then see the ecomoic cylce kick-in and a return to 500p may be possible if they strengthen(more deals), the signs are good, you could see a big change to this price in next 12-18 months but it depends on you investment strategy if you can wait 12 months. There is no denying there is strength in the price, it gets kicked back and bounces solidly the next day, retesting lows all the way.

well done on analyis ellio esp since idiot brokers forecasting downgrades........we should sack the brokers too after this financial crisis we have along with estate agents and lawyers.....most are crooked anyway

Many thanks Marni, sometimes these brokers have a very generalised opinion and their facts are badly researched. There is talk of a double dip recession, this of course is a possibility and the only thing that could destabilise the current rally, but they could be wrong on that front too! confidence does seem to be coming back!

i heard on news last night that some already felt we were in double dip recession.....actually in last recession, stock market NEVER went down, it sidetracked........many companies still undervalued and some still trashed

double dip coming? .... bollocks! ..... our company works (in)directly with the chemical and oil industry, and i can tell you that serious enquiries have increased considerably over the last few weeks, and indeed, though perhaps a fluke, a good number, primarily chemical, have become reality

who cares about your tiny company that you are in charge of or whatever,.....if you are a worker you should be sacked and if you are director or top manager then god help the company as i assume its others in charge that are making up for your constant use of moneyam......in any event its a terrible standard to use in front of juniors in office.

i read that exploration and drilling have fallen off a cliff this year.....i think its down 80% in north sea.

do stay off the bottle marni, for you become such a total arsehole when you are on the sauce ..... i can't really believe this is your nature when sober, though as is said, "in vino veritas"

while the last quarter of 2009 has been horrid, and indeed, north sea activities have ground to a halt, there is a whole wide world beyond ..... 2010 is predicted to be fairly subdued, with perhaps the exception of west africa, but 2011/12 is likely to go crazy.

for those who need rigs built and/or older ones refurbished - i.e. the sort of work that LAM does, primarily in M/E - 2010 should see a pick-up as the lead time for this sort of work is inevitably quite drawn out .... thus, i would expect LAM's results over the coming year to be rather better than some doom-merchants predict.

no doubt marni thinks she has far far better knowledge of this industry.

Remember 24p eps, penciled in for 2009-10, so even at 300p, 12x aint overblown. This could easily be 30eps though by next year or 35. The downgrade was mental, especially as the numbers during the recession were solid, add in the aquisition factor and you can now see the 7-10% steps all the way to 300p and still remain conservatively priced. Good look but we may need to re-assess price on this and its looking very good for 300p on 10x, I hope you agree?

What a stooopid comment by Marni. Jeez!

Thanks for any info cynic.

Lamprell downgraded to hold from buy at Citigroup, TP upped to 225p from 150p

TP is around 225-240 at historic eps 10x, if this can be demonstrated to be higher or even if it is re-rated, or a hostile bid is thrown in, 12-15x+ =300p plus.

Just a breather, I hope, before we push on to 300p.