REFILE-UPDATE 2-Lamprell says year-to-date performance in line

(Clarifies reference to Gulf in paragraph 1)

* Says April-end order book at $487 mln

* Remains optimistic about long-term prospects

* Says trading conditions remain challenging

* Says has high levels of enquiries for services

* Shares fall as much as 4 pct (Adds broker comments, share movement)

May 18 (Reuters) - Lamprell Plc (LAM.L), an oil and gas services company operating in the Gulf, said on Monday its year-to-date performance was broadly in line with its expectations, while trading conditions remained challenging.

The company also said it started to establish a number of strategic agreements with various suppliers and that it expected to achieve significant cost savings throughout 2009 and beyond from these initiatives.

"We have continued to see high levels of enquiries for our services in most sectors of our business," it said in a statement.

Lamprell said its order book at the end of April was about $487 million, comprising about $426 million from engineering, procurement and construction (EPC) projects.

"Its quotations department is much busier in YOY terms, but requires healthy capacity in the debt market before new business can be signed," Brokerage Panmure Gordon & Co said in a note to clients.

Panmure raised its price target on Lamprell stock to 100 pence from 66 pence on valuation, while keeping its "hold" rating.

The company, which remains optimistic of its promising long-term prospects, said its financial position had not changed significantly from Dec. 31.

Lamprell shares were down 2.5 percent at 107.5 pence at 0835 GMT on the London Stock Exchange. They touched a low of 105.75 earlier in the session. (Reporting by Ramkumar in Bangalore; Editing by Gopakumar Warrier)