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.

im still holding. its still volatile. i still havnt topped up/reinstated my 50% yet but happy to see price at these levels.still watching and waiting.
regards
jkd

Shame I didn't have any spare cash a few weeks ago. Possibly a bit late now to be buying in?

Don't forget PFC. H, In the same sector and no SD to pay on purchase.

pfc is a much heavier stock of course, but that is the one i am currently holding ..... i still rather like LAM, but it's not in the same league, though part of its attraction is that it just might be a t/o target at some time

StockMarketWire.com
Specialist engineering services provider Lamprell has agreed a 208.1m deal for Maritime Industrial Services and raising 139.4m through a three-for-10 rights issue.

MIS, with its principal operations based in Sharjah in the UAE, is a diversified engineering and contracting group focused on the energy sector.

It offers a range of engineering and contracting services to the oil, gas and energy industry spanning the hydrocarbons delivery chain, from exploration drilling through to delivery to downstream customers.

Lamprell believes the acquisition offers significant benefits and opportunities, including:

* Providing complementary business areas, particularly in onshore service offerings

* Enhancing in-house engineering capabilities

* Adding extra capacity and resources

* Adding a number of established businesses in target geographies

* Providing an enlarged customer base with a wider service offering

* Consolidating Lamprell's position as a regional market leader in the rig market

* Achieving cost and revenue synergies between two highly complementary businesses

Results of Extraordinary General Meeting

The Board of Lamprell announces that, at the Extraordinary General Meeting held earlier today, the Resolutions to approve the acquisition of Maritime Industrial Services Co. Ltd. Inc. ("MIS") and the Rights Issue, details of which were set out in the notice of Extraordinary General Meeting included in the prospectus and circular regarding the Company dated 19 May 2011 (the "Prospectus"), were duly passed without amendment on a show of hands by the requisite majority of shareholders present.

down 14%

Lamprell issues the following update in relation to its ongoing new build projects.
Having substantially completed the detailed design phase of its fixed price windfarm liftboat projects, two currently under construction for Fred Olsen Windcarrier and one liftboat under construction for Seajacks 3 Ltd, the Company anticipates making a provision based on the cost to complete amounting in aggregate to USD 14.3 million. The vessels remain on schedule for delivery to the respective customers in 2012. This provision relates solely to these contracts and arises primarily as a result of increased labour requirements and additional material and subcontract costs. We are confident that similar issues do not affect our other ongoing projects.

Notwithstanding this provision, the Company believes that its net earnings for the 2011 full year will be in line with market expectations, supported by the release, in accordance with its normal accounting policies, of certain contingencies held in relation to rig projects, the successful resolution of a dispute with regards to a major MIS project, and increases in the scopes of works on existing contracts.

what a f shambles this company has turned into ..... used to be one of my faves, but am glad that haven't held for for many months now

Questor share tip: Lamprell a bright prospect in a buoyant sector
Garry White, 7:16, Sunday 20 November 2011

Eurozone debt fears have caused stock market valuations to tumble, even in an industry where the outlook is pretty rosy. Oil services is one of these sectors and falls have created a buying opportunity.

Lamprell (Frankfurt: A0LC3A - news) 259.2p Questor says BUY

Current market woes are not going to stop oil exploration activity. The world needs more energy and industry sources have confirmed to Questor that activity continues to be strong.

Lamprell builds and refurbishes equipment for the offshore oil industry, with a speciality in jack-up rigs. These rigs are mobile and are able to stand on the sea floor on supporting legs. The main operation is in Abu Dhabi in the Middle East, but the group has also recently expanded into Thailand to refurbish jack-up rigs for the wider South-East Asian region. It also makes offshore wind turbine installation vessels, an industry that is growing fast globally.

The 680m market cap company has won $1.07bn (675m) in contracts since the start of the year. At the end of October, its order book stood at $1.2bn, with orders going out until the second quarter of 2014.

Lamprell has been active in the Arabian Gulf for more than 30 years and it listed on Aim in 2006 before moving to the main board two years later. The company is highly geared to offshore oil production it also makes floating production storage and offloading vessels. These markets are likely to remain buoyant for some time.

In the six-months to the end of June, revenues rose 102.6pc to $283.6m, with operating profits up 45pc to $41m.

The company issued an upbeat third-quarter trading update last week, where it confirmed it continued to see a high level of enquiries. It has shown these enquires can be turned into orders, with an impressive order flow of late. Indeed, a contract for a self-elevating mobile offshore drilling platform unveiled a couple of weeks ago is not accounted for in the backlog figure. Analysts reckon this contract could be worth around $170m. It is likely that more news on orders will come over the coming months. The shares are trading on a December 2012 multiple of 13.1 times, falling to 9.2 in 2012. The prospective yield is 3pc.

The shares have plunged from a high of 395.2p in July and, given industry fundamentals, the fall looks overdone.

Questor says buy.

Punt - Long Buy order triggered on the spreads @ 277.10 Mar contract, initial target 300.0. Prelim results 26/03. Stop 218.2

The above - Pass? supposed to be the chart. Stop to entry for riskfree trade. :O)

Chris - if you edit the code in post 172 and insert double quotes after LAYOUT= (near the end) it will work.

Perfect - Cheers skinny.

Stop to 287.1 to lock in + 10

Closed @291.9 + 14.8

following what looked to be promising noises of late, results show otherwise - sp down 200! ..... phew!! glad i'm not holding

The market has gone bonkers... Lamprell is a good company.

It's a good bargain at 94p.