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To: ItsAllCyclical who wrote (71408)	8/23/2000 9:30:56 AM
From: jim_p	Read Replies (2) \| Respond to of 95453

JimL, I agree on HOFF having a need to consolidate, but HOFF is still selling at a P/E ratio of 17X which is sell than the OSX average of 28X. I would be a buyer of HOFF on a pull back under $16.00. Jim

To: ItsAllCyclical who wrote (71408)	8/23/2000 11:28:02 AM
From: Think4Yourself	Respond to of 95453

I looked at HOFF this morning. The chart suggested it should pullback. Then I looked at recent news and saw the below headlines. The quote below caused me to look at the float. When I saw a piddly 5.1 million share float I bought at the ask. Quite willing to risk a 1-2 point downturn as this puppy could explode at any time. All those GOM NG wells being drilled are going to need pipelines. May 31 Horizon Awarded Hickory Pipeline Lateral Project June 8 Horizon Awarded EPC 63 Phase 1 Pipeline Project In Mexico June 28 Horizon Offshore Announces Award of Spinnaker Pipeline Contract July 11 Horizon Offshore, Inc. Announces Award of El Paso Energy Pipeline Contract August 10 Horizon Awarded Offshore Construction Component of Pemex EPC 64 Pipeline Project in Mexico Mr. Lam added, ``With the addition of this contract, Horizon's backlog is now in excess of $60 million and is the largest in the company's history.''