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Gold/Mining/Energy : UFAB - oil drilling deck fabrication -- Ignore unavailable to you. Want to Upgrade?

To: T. Lund who wrote (138)	10/25/1997 10:38:00 PM
From: andrew r harwood	Read Replies (2) \| Respond to of 337

I live 15 miles from the port of new iberia.the dredging of the port access to allow unifab to built 6000 ton platforms is going to take some time and will be strenuously opposed by environmentalists .A similar project in the same general area took a lot longer than expected to be approved and completed. It is by no means a done deal and will at the minimum take at least 2 years to accomplish .I believe there are plans next year to apply to the state legislature for funding but am not sure of this . When unifab was in the pre private placement most people believed that the target for the share would be around 40 $ a year after the offering ,it obviously reached this target much quicker ,who knows how high it might go in this manic oil services market right now ,but in my opinion it is a sell at 40$ and a buy at 25$ or so .it has severe capcity restraint on its growth due to lack of experienced labor which is very expensive right now . this is a problem in the entire oil patch right now . I have lived through one bust in the oil patch and now all is booming again and as sure as egggs are eggs it will go bust again the problem is to no when. right now unifab is trading at a ridiculously high multiple with high volatilty and is a very dangerous stock to buy at these prices.just my opinion of course.there are a lot of more reasonably oppurtnities in the oil patch and i for one and our investment club is not touching unifab with a 10 foot pole right now arh