LAM.L Regulatory News (LAM)

30 March 2011

LAMPRELL PLC

("Lamprell")

LAMPRELL ANNOUNCES NEW CONTRACT AWARD

Lamprell (ticker: LAM), a leading provider of specialist engineering services to the international oil & gas and renewables industry, is pleased to announce that it has received a new contract award from Weatherford Drilling International (BVI) Ltd ("Weatherford"), for the engineering, construction and delivery of two 3000HP land drilling rigs, with a total contract value of USD 41 million. 

The rigs have a static hook load capacity of 1,500,000 lbs and 800,000 lbs set back capacity. The mast will accommodate a 750T top drive supplied by three triplex mud pumps rated at 2200HP with a 7500psi high pressure mud system. The rig will be powered by five 3516B CAT engines. Lamprell will fabricate the rigs at its yard in Jebel Ali. The project is planned to be completed during the first quarter 2012.

Commenting on the contract award Nigel McCue, Chief Executive Officer, Lamprell said:

"We are delighted to be announcing this significant new contract award from Weatherford. We believe that this land rig award, the largest yet for our oilfield engineering business, demonstrates the exciting opportunity to develop Lamprell's offering in this developing regional market. We look forward to working with Weatherford on this important project." 

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