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.

Looking better.

Breaking out from recent highs

Marked down to 144.50p at 11am is now up on the day to 149p

on breaking 150p then 160 will be the number to look for

Bullish engulfing and a finish above the 50ma - more volume would have been more convincing.

Update on Refinancing of Debt Facilities

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, further to its announcement on 19 July 2013, the Group has satisfied the conditions for utilisation on its new banking facilities and that Lamprell has now drawn down on these facilities. The agreement remains subject to certain conditions subsequent which Lamprell anticipates being satisfied in the next few weeks.

Notice of Results

Lamprell (ticker: LAM), a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, will announce its results for the six months ended 30 June 2013 on Thursday 29 August 2013.

sp down 4% @ 134P today on news of replacement CFO

not an entirely fair comment; most stocks across the board are down

cynic yes but not by nearly 5%, replacing a CFO after he has been in the job for a short time has an unsettling effect on the market.

hadn't realised that, for though i watch this one, i don't follow it closely ..... very bad for company image to keep changing key personnel

Half Yearly Results

Financial highlights
· Financial results for the first half of 2013 ahead of our expectations
· Stable revenue performance broadly in line with 1H 2012
· Return to profitability demonstrates the Group's on-going recovery
· Positive cash flow with net cash of US$151.1 million at 30 June 2013
· Successful refinancing secured with US$181 million debt facility committed to June 2016

Operational highlights
· Continued strong safety record with further projects surpassing key safety milestones
· Robust operational performance during 1H 2013
· Successful delivery of several key projects including Windcarrier "Bold Tern", the Greatships jackup rig and two offshore structures to North Sea exacting standards
· Major contract for one new build jackup, with an option for a further one, secured since 1 January 2013
· As at 30 June 2013, backlog of US$ 1.1 billion (31 December 2012: US$ 1.2 billion), with bid pipeline approximately US$ 4.6 billion (31 December 2012: US$ 4.1 billion)
· Continuing operational improvements; implementation of new ERP system commenced

Strategic focus
· Capitalise on opportunities in the Group's core markets where it has strong established positions: new build rigs, offshore construction and rig refurbishments
· Commenced process to review status of non-core services businesses
· Disciplined approach to capital expenditure
· Sustain and improve on the Group's high standards of safety and quality

Current trading and outlook
· 2013 recovery on track and all major projects proceeding to plan
· Expecting to deliver the first Caspian Sea jackup rig in Q3 2013
· First jackup rig to be delivered to the Jindal group in Q4 2013
· High demand for our core services with a strong pipeline of opportunities
· Focus on the conversion of the Group's increased bid pipeline into contract wins
· Performance for the full year anticipated to be ahead of our expectations
· Expected revenues in 2014 to be slightly down compared to 2013, with measured growth returning in 2015

J P Morgan Cazenove Neutral 135.00 135.00 164.00 166.00 Reiterates

Lets hope LAM's accounting procedures are now above reproach. Good start to the day, up 9%.

Contract Award

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 an international drilling contractor has taken up an option that Lamprell had for a kit for a Super 116E (Enhanced) Class design Mobile Offshore Drilling Platform and has now made a contract award to Lamprell for the construction and delivery of a completely outfitted, LeTourneau designed, jackup rig. Lamprell will fabricate the jackup rig in its Hamriyah facility with expected delivery in Q1 2015.


James Moffat, Chief Executive Officer, Lamprell, said:

"I am delighted to be able to announce this new contract award from a highly valued customer for the construction of a Super 116E jackup rig. Lamprell has a track record for constructing jackup rigs to very high safety and quality standards and we have confidence in our ability to deliver this project as planned. We continue to see a good bid pipeline and are focused on capitalising on the growth opportunities we see in the Group's core markets."



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Contract Award

CONTRACT AWARD FOR MAJOR
REFURBISHMENT PROJECT


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 been awarded a major rig refurbishment contract by the Millennium Offshore Services group (MOS). The contract relates to the conversion of the "MOS Frontier," a three-legged Type MLT116C jackup rig, and is valued at approximately US$ 64 million.

The rig is a multi-purpose jackup unit capable of operating in water depths of 300 feet and it will be converted into an accommodation support vessel for the purpose of accommodating 290 personnel. The work on this project will be executed at the Group's Sharjah facility.


James Moffat, Chief Executive Officer, Lamprell, said:

"Lamprell has a well-established track record for undertaking major rig refurbishment projects and so it is pleasing that one of our existing clients has awarded us a new contract for one of the largest refurbishment and conversion projects in our history. Rig refurbishment remains an area of traditional strength for the group and it is encouraging to have been selected by MOS for this high profile project."


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The Pru go above 5% http://www.moneyam.com/action/news/showArticle?id=4671422

Arrival of new CFO

Further to the announcement of 28 August 2013, Lamprell (ticker: LAM), a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, confirms that Joanne Curin has now taken up her role as Chief Financial Officer for the Group and as an executive director on the Board.

As announced previously, Frank Nelson will continue to sit on the Board of Lamprell and to support Ms. Curin until the end of October to ensure a smooth and orderly transition.


John Kennedy, Chairman of Lamprell, commented:

"On behalf of the Board I would like to welcome Jo to Lamprell. She brings a wealth of public company experience and, working closely with CEO Jim Moffat, I am confident that the new team will continue to develop Lamprell's reputation for high build quality, a strong safety record and for working collaboratively with our clients."

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PRUDENTIAL UP STAKE I PAID 144 FOLLOW THE MONEY TARGETS 180 ENDS

Everything seems to have converged. Presumably a clear move in either direction is needed before a bullish or bearish trend is set? Am trying to jump the gun probably, but am looking for a strong bounce up.

Harry - finally looking like it may breach 150p.