UFAB - oil drilling deck fabrication Message Board

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Gold/Mining/Energy : UFAB - oil drilling deck fabrication

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To: Platter who wrote (170)	11/29/1997 7:15:00 PM
From: andrew r harwood	Read Replies (1) of 337

The short position was in the wall steet journal this week and im not sure what date that applies to but would think after making a big profit and with little potential for further declines they will cover soon.i dont really cover all these stocks but just have personal and local knowledge about unifab because i live close by .unifab basically has contracts and sufficient work for 3 years as i understand it ,i think therefore that it will do well whatever happens to the short term price of oil.as noted before they are more dependent upon the price of natural gas whose price has been holding up fairly well.they recently announced an expansion to lake charles louisiana because of problems with obtaining skilled labor in the acadiana arae ,also i suspect that they will eb able to build there bigger platforms over there (the 6000 ton ones) it may be a long time before the port of new iberia is able to improve its gulf access deep enough to take the 6000 ton production platforms that unifab wants to build . anyway unifab is a good little company ,with no debt well managed with work for at least three years and a pe in the range of 15-18 right now and my 1-2 year target is 40$,and im going to buy some more on monday so obviously i think it will do well.time will tell of course .it just went up way too far too fast and i am glad for the oppurtunity to be able to buy it close to its offering price which i didnt think i would be able to do.one of the directors is perry segura who is a very sharp cookie and he owns more than 400,000 shares and as far as i know hasnt sold any so i really think its a great buy right now but time will tell and its hard to pick a bottom.what has amazed me has been the interest in unifab and the huge trading volume,there are only around 4-5million shares out and many are controlled by mr berard his family and perry segura and as far as i know they havent sold any so i have no idea where all the shares have been coming in the trading over the last few weeks.anyway it was absolutley impossible to get any of the ipo shares even though i tried ,i have a brokerage account with morgan keegan in lafayette which handles the offering and they could ny get me any so feel fortunate to be able to get in now at a reasonable price only a little above the ipo price .i personally dont think its risky at these prices but who knows for sure .arh

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