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Gold/Mining/Energy : UFAB - oil drilling deck fabrication
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To: andrew r harwood who wrote (61)9/25/1997 3:04:00 PM
From: mugicha   of 337
 
Well, we're certainly not at the beginning of the cycle, but we're not at the end either. Borrowing from an analogy I like to use, we're probably in the 4th or 5th inning of the ballgame. Here is my analysis of the situation we find ourselves in. First, about 95% of the population in China still rides bicycles and there is an increasing demand for automobiles every day. We're talking about a billion plus people that will need oil and gas to run their cars. Similar situations exist in many countries though with smaller populations. The world's supply of oil isn't growing fast enough to meet demand going forward 10 or 15 years. Until the world adopts alternative fuel sources the industry will continue to ratch up solid growth. Once alternative fuel sources like natural gas hit the mainstream there will be plenty of opportunities for Unifab and others to adapt and enter these markets as well. This isn't a static industry as the dynamics change all the time. The oil industry, like every industry I know of, is a cyclical industry. However, a lot of money can be made in cyclical industries. The point is, we still have further to go and Unifab is one of the least expensive stocks in the sector on a valuation basis. See you all in the 50's.

Brian
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