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Gold/Mining/Energy : GIFI !!!!!!!!!!! -- Ignore unavailable to you. Want to Upgrade?

To: SargeK who wrote (24)	2/6/1999 12:45:00 PM
From: SargeK	Respond to of 41

GIFI: Solid Value, Outstanding Potential Mr.Chauvin's ( pres/ceo Gulf Island )remarks that he anticipates a pick up in activity is supported by the facts: EIA "U.S. Oil Demand: Despite Slower Economy, 1999 Likely to Yield Higher Growth Despite the assumption of a slower economy, U.S. petroleum demand growth is expected to increase in 1999 by over 500,000 barrels per day, or 2.9 percent, from 1998 levels. Much of this growth is attributed to increases in demand for heating fuel and other weather-sensitive products." eia.doe.gov eia.doe.gov eia.doe.gov eia.doe.gov eia.doe.gov eia.doe.gov eia.doe.gov GIFI is growing by: acquisitions, adding to capacity and efficiency, no debt and conservative expansion (funded by cash generated by ongoing operations and occasional "temporary" use of its $20m Revolving Credit Account): gulfisland.com K

To: SargeK who wrote (24)	2/7/1999 12:03:00 PM
From: SargeK	Read Replies (1) \| Respond to of 41

Analyses Support 3Q-4Q/99 Earnings Pickup for GIFI quicken.com IBES estimates Earnings of $.11/1Q, $.21/2Q and $1.17 for FY99. Using these estimates (which have historically been lower than actual results), it appears the present quarter may be the "turning point" toward the glide path back to accelerated growth. If the first half estimates of $.32 is accurate, then $.85 is the forecast for the second half of 1999 or $.43 each for the 3rd and 4th quarters. This is consistent with Mr. Chauvins statement that he sees a pick up in activity this year and is also consistent with EIA forecasts of increased demand and higher crude and natural gas prices, year over year, in 1999 and 2000. If the Company secures the Petronius replacement contract, the already "decent backlog" (Mr. Chauvins words) would be increased. The Company, along with 3 other engineering firms, are continuing development of the "Men-dock-sp?" project (a deep watet concept) which Mr. Chauvin indicated was a "good, feasible project for the future" that was receiving "worldwide interest and becoming more accepted". While no sells have yet resulted, Mr. Chauvin indicated further engineering refinements (Phase II) were being made, while marketing the concept continues and customer interest has been generated. Patent is pending. He indicated Phase I model testing in Maryland was "real favorable". I would like to know more about this and may send an E-Mail for a more comprehensive brief than that contained in the conference call. The more I examine this company, the better I like it. K