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   Gold/Mining/EnergyUFAB - oil drilling deck fabrication


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To: SargeK who wrote (302)4/5/1999 12:33:00 PM
From: gpphantom
   of 337
 
Sarge,

Just started my accumulation - in at 7 5/8

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To: gpphantom who wrote (303)4/5/1999 6:16:00 PM
From: andrew r harwood
   of 337
 
well i wish you good luck i jst got rid of mine at a considerable loss .what will happen is that in the first phase of the bear market that we are now in in oil and gas service companies the rig owners and the boat people will be the ones most affected because thats what the drilling companies will turn off first ,this has already happened .but they will also be the ones to recover the quickest .the fabricators like unifab will tend to hold up a lot better since they have preexisting orders for platforms on finds already made . however their downturn will tend to be longer and they will be the last to recover .
a good number of people that i know in acadiana some of whome are knowledgeable about the company have been selling even at these depressed levels ,most prefer global industries .so while unifab is a lot better buy at these depressed levels compared to a year ago i decided to sell because i figured i could find a more productive place to put my money .i think you are in for a long wait .just my personal opinion of course .arh

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To: andrew r harwood who wrote (304)4/5/1999 8:49:00 PM
From: gpphantom
   of 337
 
Thanks Andrew, I note and appreciate your perspective.

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To: gpphantom who wrote (305)4/7/1999 1:19:00 PM
From: andrew r harwood
   of 337
 
well i have sold out of all of my drilling stocks to take advantage of the recent price rise.this was still a loss position but less than it had been .i hope to buy back global at the 5-6range ,ocean at the 4-5range .probably will never buy back unifab unless it goes down to the 4 level .just bought a highly speculative small lafayette based oil and gas company called petroquest .have heard some really good vibes about it .symbol pque on nasdaq.it has a web site trades around 5/8to3/4 .very risky and speculative and you could loose all your money but it has just made (see website at www.petroquest.com) a good discovery in the gulf which will pay for the company in a year .a lot of other projects and plans not a lot of debt and looks if all goes well that it might be a 10 bagger .one could easily loose all ones money in it however.i put all my money from selling unifab into it and hope to get back the money ive lost in unifab .just my personal opinion of course as a private investor without an ax to grind arh

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To: andrew r harwood who wrote (306)4/12/1999 9:41:00 AM
From: SargeK
   of 337
 
Andrew,

Sorry too hear about your losses; but, it sounds like you have just compounded your mistake. Buying high and selling low is not the recipe for making money. The SMART MONEY is buying the SECTOR and UFAB represents one of the best BARGAINS remaining in the SECTOR.
GOOD LUCK to YOU. FATE often favors the well prepared.

SargeK

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To: SargeK who wrote (307)4/12/1999 1:50:00 PM
From: andrew r harwood
   of 337
 
well of course time will tell,some of these stocks have had a great run (eg global industries basically doubling from depressed levels)whilst others (eg unifab ) have not .i am expecting ( but of course i could be wrong)that they will test their lows again before its all over and then i intend to buy back global industries and hold with the expectation that over time it will get back into the mid twenties .the sector is currently extremely depressed as manifest by the lowest rig count in louisiana for many years .the whole sector has been shocked by the severity and longevity of this recent turndown in oil and gas prices and i think the industry is going to wait quite a while prior to revving up again .so it will take several months o stable to increasing oil and gas prices before the sector starts increasing spending on exploration which will impactr on the oil services industry and its profits. a lot of people are still getting laid off .some of the intermediate producers who are responsible for a great deal of drilling in the gulf like ocean energy are so submerged in debt that it will be a while before they recover and start drilling in the gulf again , indeed i beleive that ocean is not going to drill another well in the gulf this year
i happen to have purchased a very small exploration company last week based in lafayette ,it produces oil and gas and will be impacted immediately by the increase in energy prices since it does not hedge .
so personally i believe the recent rise in oil service companies stock is overdone and i think their will be another buying oppurtunity .i have descided for reasons already stated to cncentrate on global industries and not unifab .time will tell whos right arh

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To: andrew r harwood who wrote (308)4/12/1999 2:25:00 PM
From: SargeK
   of 337
 
If you are so strong on glbl, why don't you post on their message board? You have already stated you bought UFAB high and sold it low, so why should anyone listen to you. I am beginning to think you are one of the former disgruntled employees that left the company to form a venture and when it failed tried to get your old job back. The word is UFAB doesn't want any of you back. They are getting along quite nicely without you.

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To: andrew r harwood who wrote (306)4/12/1999 2:45:00 PM
From: SargeK
   of 337
 
Andrew Hard-head, Market Timer of the YEAR

Harwood:

"To: cellhigh (248 )
From: andrew r harwood Thursday, Feb 5 1998 8:40PM ET
Reply # of 309

Unifab announced today that they have purchased a company in lake charles in the same line of business as them.more importantly it gives them access to deep water and will allow them to bid on bigger platforms which i would imagine are more profitable .also lake charles doesnt have quite such a tight labor market as acadiana so they should have fewer problems expanding their work force and taking on more business .lack of trained labor in acadiana in our boom here has been a significant problem for the company .anyway very significant announcement for the companies long term future .i still stand by my prediction that unifab will be between 30-40$ a share within 2 years .i just wished i had bought more than i did at the 13$ level .it was such an obvious bargain at those price .arh"

Has the past year taught you anything? Those who do not learn from history are doomed to repeat their mistakes.

K

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To: SargeK who wrote (310)4/14/1999 4:44:00 PM
From: JGreg
   of 337
 
I hear ufab is beginning to hire now. That tells me they must have work. I've got a very small amount of Unifab.

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To: JGreg who wrote (311)4/14/1999 5:02:00 PM
From: andrew r harwood
   of 337
 
well unifabs stock price is behaving in a very weak manner .it is down close to its yearly low and had a poor day today on fairly big volume all the oil service stocks were down including my favorite global industries though right now i am out of all of them .they really had gone up to far too fast and it will be at least a year before thier business picks up .relative to others in the group however unifab seems to be behaving particularly badly .i for one am glad im out even though i lost money .i have no idea how low it will go since i dont have a crystal ball . the only thing thats positive is that it doesnt have much debt so dont think that its at any great risk of going bust .i have no intention of buying unifab but may reconsider if it goes down to 4$ a share .hope to buy back global in the 5-6$ range .just my personal opinion of course.
for some reason a note i put in a couple of days ago didnt come up .i am not in the oil and gas industry but know quite a few people who are and i dont personally know anyone who is positive on unifab right now .i have no idea who sarge k is but he sure acts like an employee of unifab or a broker trying to push its stock .arh

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