Lamprell Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:LAM.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9674156

By illbetabuck ]]> http://www.iii.co.uk/investment/detail?code=cotn:LAM.L&display=discussion&id=9674156&action=detail Wed, 23 May 2012 17:14:00 GMT illbetabuck tag:iii.co.uk,2003:tst.9673870
There's hope yet for poor old battered LAM By rollthediceagain ]]> http://www.iii.co.uk/investment/detail?code=cotn:LAM.L&display=discussion&id=9673870&action=detail Wed, 23 May 2012 15:42:00 GMT rollthediceagain tag:iii.co.uk,2003:tst.9672384
"Kevin has overall responsibility for the day-to-day management of the Sharjah Facility and manages the execution of all the projects undertaken there."

So there is no way he could possibly have known about delays in projects caused by the lack of supplies, or indeed that hundreds of staff were swinging their dicks.....

Simple really. ;-)

Scott Doak:

"Scott is the Integration and Development Director"

Again, it is clear that he could not possibly have known that staff were idle and that supplies were delayed, thus delaying project delivery dates, less so than Kevin, who actually runs one of the main sites.

Very simple really, in no way could either of them had been the slightest bit aware of the problems that Lamprell was having as a result of supply issues, nor the impact that they would have on the business.

....and if the above is all true, then the company should probably have shown them the door for NOT being aware of what was going on.

All that said, I bought shares yesterday, and have bought more again this morning.

Noting that the Independent Non Exec bought shares, and noting that as the independent board member he should be looking after the interests of shareholders.

Hopefully he will persuade the company to 'do the right thing'. ;-)
By illbetabuck ]]> http://www.iii.co.uk/investment/detail?code=cotn:LAM.L&display=discussion&id=9672384&action=detail Wed, 23 May 2012 10:12:00 GMT illbetabuck tag:iii.co.uk,2003:tst.9672228 http://www.iii.co.uk/investment/detail?code=cotn:LAM.L&display=discussion&id=9672228&action=detail Wed, 23 May 2012 09:45:00 GMT sheffieldowls tag:iii.co.uk,2003:tst.9672176
Under normal market conditions a raging bargain at these prices - but with greek elections due in a few weeks I see little that will drive markets upwards prior to the voting - markets hate uncertainty and no one knows how the greek people will vote !

Still watching keenly

GLA STAN By Staneola ]]> http://www.iii.co.uk/investment/detail?code=cotn:LAM.L&display=discussion&id=9672176&action=detail Wed, 23 May 2012 09:36:00 GMT Staneola tag:iii.co.uk,2003:tst.9672175 Gov to pour billions, not millions, into erecting giant wind turbines in North sea. Lamprell can have a field day now they know how to build high tech turbine installation ships.

2.
You should not judge people by appearances, but from his pic in the annual report, Mr Lamprell looks a tough well seasoned guy who won't suffer fools, or the destruction of his business, easily. Mr McCue on the other hand makes me want to beat the screen with a rotten banana.
Does this make me a bad person? By MoleMan99 ]]> http://www.iii.co.uk/investment/detail?code=cotn:LAM.L&display=discussion&id=9672175&action=detail Wed, 23 May 2012 09:36:00 GMT MoleMan99 tag:iii.co.uk,2003:tst.9671803
The situation they explained was that Lamprell build LeTourneau (spelling?) rigs. The high oil price means a lot of these rigs are being built round the world and Lamprell has the most on order in the world at the moment. Lamprell purchase kits of key parts from LeTourneau. LeTourneau have got delivery problems - but they have recently been purchased by Cameron who are dealing with the issues, ramping up and moving production. Cameron have committed to resolving issues within 6/12 months and are apparently giving Lamprell some priority as their largest customer for these rigs.

The effect of this is that apparently 1500/1750 people have been idle ( I guess the directors who sold shares did not notice this!!!!) and work in the yard is going out of sequence. They say that no delivery dates should be missed - but there is considerable build inefficiency. Milestones may be delayed which has the effect of delaying recognition of revenue. The only way I can understand it is to think that they are waiting for key components now and have labour idle - but later on when the parts arrive they will have to hire more to blitz the jobs for the due dates.

They said that the two latest rigs announced recently were sold with a longer build cycle than usual because Lamprell were aware of delays - and then got themselves muddled when trying to explain they only became aware of delays in the last few months, I mean weeks, mumble mumble.

In addition, there has been about a 5million cost over-run in getting some high-tech gear to function on the new liftboats - but they have been completed on time.

The management came over badly on this call - with outside our control, only recently aware type comments - but I am sure the company will sort itself out and I am a buyer at these prices. Indeed I notice a non-exec is buying now too.

Mr Lamprell is probably a resourceful man to build up a business like this - with shares worth £300M last week and £100M this week, I imagine he might be taking some action to kick a55. Lets hope it turns things round.





By oceanfree ]]> http://www.iii.co.uk/investment/detail?code=cotn:LAM.L&display=discussion&id=9671803&action=detail Wed, 23 May 2012 08:16:00 GMT oceanfree tag:iii.co.uk,2003:tst.9671576 http://www.iii.co.uk/investment/detail?code=cotn:LAM.L&display=discussion&id=9671576&action=detail Wed, 23 May 2012 07:24:00 GMT flipdalid tag:iii.co.uk,2003:tst.9671455 http://www.iii.co.uk/investment/detail?code=cotn:LAM.L&display=discussion&id=9671455&action=detail Wed, 23 May 2012 07:01:00 GMT illbetabuck tag:iii.co.uk,2003:tst.9671446
Some good news I guess. ;-)

By illbetabuck ]]> http://www.iii.co.uk/investment/detail?code=cotn:LAM.L&display=discussion&id=9671446&action=detail Wed, 23 May 2012 06:59:00 GMT illbetabuck tag:iii.co.uk,2003:tst.9671013 http://www.iii.co.uk/investment/detail?code=cotn:LAM.L&display=discussion&id=9671013&action=detail Tue, 22 May 2012 21:34:00 GMT popes11 tag:iii.co.uk,2003:tst.9670571
Then again I am hoping for 50p. We've come this far we may as well get a screaming bargain for our troubles.

A rather churlish broker downgrade here.
http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=20110856 By MoleMan99 ]]> http://www.iii.co.uk/investment/detail?code=cotn:LAM.L&display=discussion&id=9670571&action=detail Tue, 22 May 2012 18:57:00 GMT MoleMan99 tag:iii.co.uk,2003:tst.9670547 http://www.iii.co.uk/investment/detail?code=cotn:LAM.L&display=discussion&id=9670547&action=detail Tue, 22 May 2012 18:46:00 GMT MoleMan99 tag:iii.co.uk,2003:tst.9670452
I'm looking for a decent top up point as I've a lot of time for LAM, warts and all ~ bought first batch at 110p earlier today (drat!) not expecting sp to drop 13%+. I'd previously held when they fell to 50p lows a few years ago and made a very nice return so if market wants to repeat the opportunity... By rollthediceagain ]]> http://www.iii.co.uk/investment/detail?code=cotn:LAM.L&display=discussion&id=9670452&action=detail Tue, 22 May 2012 18:06:00 GMT rollthediceagain tag:iii.co.uk,2003:tst.9670424 http://www.iii.co.uk/investment/detail?code=cotn:LAM.L&display=discussion&id=9670424&action=detail Tue, 22 May 2012 17:53:00 GMT komma