Re: Quite on here... .recent lows ? I may have said this before but I met someone who used to work at LAM in UAE and his basic assessment was that they make shallow water rigs whereas most offshore exploration (to the extent it is even happening) is concentrating on deep water finds.So steer clear. It hasn't recovered from he 2012 drop.D
Quite on here... .recent lows ? Any views ?
Transformation Stalled? [link] I'd best give this one a miss as it's oil related, though I've watched it for quite sometime now.
Lambrini What does your magic machine see next for LAM?
Re: LAM Chart ... No I dont have a short running. Just posting a view!The bad debt scenario is indeed conjecture but have a look at the fleet list of their biggest customer and you will see how fast rigs are going into lay up.
Re: LAM Chart ... >>SELL 120..target 66p<<<BANG ON!!
Re: gloomy outlook thanks for suggestion. quite aware of the fundamental elephant in the room that is POO. that said your comment on bust/ bad debt is pure conjecture. I can only assume you may have a short on this. nothing wrong with that and good luck
Re: gloomy outlook Commercia I suggest you base you buy back on fundamentals not gyrations in the stock price. Until the price of oil is firmly reestablished at a level that underpins a widespread recovery in offshore drilling Lamprell is going nowhere. My personal belief is (despite the cash pile) they will go bust long before then and your 50p will be down the drain. I'm still waiting for the announcement that one of their shiny new rigs hasn't been paid for....
Re: gloomy outlook agreed. 86p as i write.. i picked these up at 76p a couple years back after 3 or 4 profit warnings, made a tidy sum. i am willing to buy back in this year sometime.. 50pish
Re: gloomy outlook I thought the RNS was a masterpiece of obfuscation. Of course 2015 looks OK, I'm pleased everybody is turning up for work and it's nice that all the unwanted rigs are stacked outside. But the industry they work in is in meltdown. Short term will the rigs they are completing be paid for? Extending options is a valueless exercise if the buyer can pick up yard resales at half price from the rigs stacked outside. Lamprell is a good enough Company in a bad place. PS I no longer have any position in these shares.
NEW ARTICLE: The Oil Man: Oil Price, Lamprell "WTI $42.94 -10c, Brent $45.46 -71c, Diff $2.52 -61c, NG $2.25 +4cA predictably quiet day on world oil markets, with the US closed for Thanksgiving. Poor Chinese economic data pushed prices down somewhat and has done so again this morning, but ..."[link]
Re: gloomy outlook Not according to the latest RNS today ole chap.
gloomy outlook With drilling rigs steadily coming off hire it is probable that some of the 7 jack ups under construction are not wanted/employable by their prospective owners. Maybe they will have difficulty getting the necessary finance if their business are under pressure from the general offshore meltdown. if that is the case Lamprell will be stuck with them, the outstanding options will not be exercised and there will be no new orders. Gloomy outlook until the oil price turns.
NEW ARTICLE: Lamprell poised for sector outperformance "With the oil industry even more battered and bruised than a week ago, LSE:LAM:Lamprell isn't going to find the next couple of years easy. But the oil services group has gone "back to basics" and new strategic opportunities may have paved the way ..."[link]