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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: chowder who wrote (71744)	8/27/2000 12:07:18 PM
From: Brian P.	Read Replies (1) \| Respond to of 95453

Speaking of the Caspian... In UFAB's 2000 Annual Report they have a schematic drawing of their new "proprietary RAM (Restricted Access Modular) Jack-up rig" which they tout as an innovative economical solution to problems specific to the Caspian: prohibitive local yard costs, restricted access, extreme climatic conditions, remoteness, etc. They call it "the most economical answer we have seen to develop the shallow offshore fields in the Caspian Sea." I wonder how big a potential revenue stream this rig is, how unique it really is, and if they're building it yet? In the report and the 10-K Unifab says they are now new and different: they spent the industry downturn time being a "disciplined, focused acquirer," (e.g., of their Allen Process Systems and Oil Barge, Inc. companies), and spending on capital investments at their New Iberia and Lake Charles (deepwater) facilities, and, as a result, are now reincarnated as a "full-capability supplier," better-positioned than others to take advantage of the offshore and deep-water rig-construction cycles about to materialize. They anticipate being at full capacity by late fall. Makes interesting reading. Any comments or wisdom from those in the know? Big Dog? Dabum? ? Much obliged to you all.