UFAB - oil drilling deck fabrication Message Board

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

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To: Warner Buffett who wrote (271)	5/18/1998 6:08:00 PM
From: andrew r harwood	Read Replies (1) of 337

I think that omni is a good local oil service copany also though dont own any .i drove past there main plant on the road to opelousas yesterday and it shows a lot of signs of activity and a lot of expansion and building so they must be doing well .was not able to find out any further scoop on the unifab managment turnover, dont think that there is any doubt that there was a personality clash,the one major vulnerability of unifab is its dependednce upon daily berard .its most recent results look good with 25% growth in revenues and growth in profit.its trading at quite a discount in terms of pe to the market .it should grow very well with the acquisitions that its made provided they have enough experienced people in managment/ daily berard was sounding off in the local newspaper today as he often does about taxes ,a few politicians want to put more taxes on the oil and gas industry here so they can waste the money on one thing or another and daily was protesting about it and rightly so. i still own some unifab but dont like its extreme volatility and dependence on daily berard .the best local company is of course global industries and in the exploration business stone energy and ocean engineering. everyone is a little nervous right now with the price of oil and there have been a few layoffs but not much yet .hopefully the decline in the price of oil and to a lesser extent the price of gas is temporary .clearly the oil service industry is directly affected .according to my friend the trend in the oil service industry is one stop shopping so the oil company hires on operator to drill the wellthis will lead to further consolidation and fewer small companies .read an article that the oil service industry is in the first phases of a 10 year major bull market sure hope that s the case arh

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