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   Gold/Mining/EnergyUFAB - oil drilling deck fabrication


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To: Roebear who wrote (324)6/28/1999 6:05:00 PM
From: Brian
   of 337
 
UFAB seems to be holding up ok, and they are still in an acquisition mood!
Monday June 28, 5:12 pm Eastern Time

Company Press Release

UNIFAB International, Inc. Acquires Compression Engineering Services, Inc.

NEW IBERIA, La.--(BUSINESS WIRE)--June 28, 1999--UNIFAB International, Inc. (NASDAQ:UFAB - news) announced today that it has completed its acquisition of Compression Engineering Services, Inc. (CESI). CESI provides compressor project engineering from inception through commissioning, including project studies and performance evaluation of new and existing systems, on-site supervision of package installation, and equipment sourcing and inspection. CESI recognized
revenue and pretax income of $814,000 and $187,000, respectively, for the year ended December 31, 1998. The purchase price was 60,000 shares of UNIFAB International, Inc. common stock. CESI will operate as a division of Allen Process Systems, a wholly-owned subsidiary of UNIFAB International, Inc.

In addition to compressor project design and engineering services, CESI provides daily monitoring of the performance of reciprocating gas compressors using a proprietary software program named COPA (Compressor Operational Performance Analysis). COPA detects deviations in equipment performance, which can then be addressed minimizing repair costs and down time. CESI has also developed TEMMP, a preventive maintenance management tool for equipment. These products and the other services offered by CESI can be seen at the CESI website www.comprenger.com

''Compression Engineering Services, Inc. broadens UNIFAB's base as a single-source supplier,'' said Dailey J. Berard, President, Chairman and CEO. ''Bill Adams, President of CESI and a Petroleum Engineer, is well known for his expertise in evaluations, engineering design and project management of various gas compression systems. He also teaches technical training courses in the design and operation of reciprocating compression systems. The expert project management and proprietary technology Mr. Adams and CESI bring to the UNIFAB Family are well recognized in the industry. The addition of CESI will allow Allen Process Systems to complete the process train by now having the capabilities of designing and manufacturing gas compression systems. Adding Mr. Adams to the team and adding the services offered by CESI to those already offered by the growing UNIFAB family of companies, enhances our ability to provide complimentary specialized services to our customers.''

UNIFAB fabricates and assembles jackets, decks, topside facilities, quarters buildings, drilling rigs and equipment for installation and use offshore in the production, processing and storage of oil and gas. Through its wholly owned subsidiary, Allen Process Systems, LLC, the Company designs and manufactures specialized process systems such as oil and gas separation systems, gas dehydration and treatment systems, and oil dehydration and desalting systems, and other production equipment related to the development and production of oil and gas reserves. Allen Process Systems, LLC also provides a full complement of engineering and field commissioning services related to production systems. Through a wholly owned subsidiary, Oil Barges, Inc., the Company offers design and fabrication of drilling rigs. The Company's main fabrication facilities are located in the Port of Iberia in New Iberia, Louisiana. Through a wholly owned subsidiary, UNIFAB International West, LLC, in Lake Charles, Louisiana, the Company provides repair, refurbishment and conversion services for oil and gas drilling rigs and industrial maintenance services. Through a wholly owned subsidiary, Allen Process Systems, Ltd., headquartered in Wimbledon, England, the Company provides engineering and project management services primarily in Europe and the Middle East. Dailey J. Berard serves on the Louisiana Workforce Commission and other task forces that are working to improve the training and education of the workforce in Louisiana.

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To: Brian who wrote (325)6/29/1999 4:34:00 AM
From: Roebear
   of 337
 
Brian,
Best defense a good offense and good for UNIFAB!

TTYL

Roebear

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To: Roebear who wrote (326)6/29/1999 11:36:00 AM
From: andrew r harwood
   of 337
 
well it comes as no great surprise that unifab had a poor quarter .if you go back and look at previous notes made on the subject .in my opinion unifab will continue to do poorly and is one of the worst investments in the oil service sector.it will recover last and probable the least . as you will observe global industries has tripled from its bottom and over the long run will do well since it is a larger and much better run company .unifab in my judgement will continue to languish and do poorly despite the protestations of management .the oil service sector continues to be in a deep slump and the recovery in prices in my opinion has been too far too fast and likely there will be other negative earnings surprises .with the price of oil and gas holding up fairly well right now there is a glimmer of hope on the horizon but right now all these companies are suffering severely .
unifab in my opinion is still expensive at 8 ,it might be a buy below 6$ a share but just for trading purposes not for a long term buy .just my personal opinion of course .arh

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To: andrew r harwood who wrote (327)7/2/1999 6:32:00 PM
From: Roebear
   of 337
 
andrew,
You really are ignoring the chart on this one, which has a beauty of a base and an inverse H & S with a measurement in the 20's.

R U sure its not sour grapes?:

Message 8921381

You missed that run up, don't miss the next one. It was important for UFAB to test and hold its support and it did.

Drilling is just beginning to ramp up...

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To: Brian who wrote (325)7/2/1999 6:35:00 PM
From: Roebear
   of 337
 
Brian,
BTW, I bought back my 2/3 stake high 7's and 8. My only concern is the anemic volume, but it also shows few sellers at these prices.

To me it is not a question of if UFAB will run up, merely when.

Have a great weekend,

Roebear

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To: Roebear who wrote (329)7/4/1999 2:48:00 PM
From: SargeK
   of 337
 
Roebear,

At least one analyst agrees with us long term. Following a modest drop to $.85 this FY ending 03/00, one analyst has Unifab earning $2.85 FY ending 03/01. In addition to the acquistions, the Lake Charles (LC) facility will be fully developed and it appears the analyst believes the Company Chairman when he says " LC will be the cornerstone to future growth". This is consistent with what Pete Roman has been saying all along.

investor.msn.com

investor.msn.com

By the way, some YoYo cretin on YAHOO thinks you are me since I seldom post and you have positive things to say about UFAB.

I'll continue to do some modest trading but will hold the majority of my UFAB shares for the BIG payoff.

Good luck all,

SargeK

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To: SargeK who wrote (330)7/4/1999 8:13:00 PM
From: Roebear
   of 337
 
SargeK,
Yeah, I saw the pervert on Yahoo, what a creep. Guess that he thinks you and I are the same is an example of his analytical skills as in zip, zero, nonexistant.
Did you check out the chart R Thomas has on securitytrader.com for UFAB. Its a beauty, you'll like it.
It was suggested btw by mois, Roebear, along with the FGI chart. They are on the trading room at the bottom under long term holds.

Later, its time for fireworks,

Roebear

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To: SargeK who wrote (330)7/5/1999 10:46:00 AM
From: Roebear
   of 337
 
Sarge,
Of interest IQ has gone bullish to OSX 92. Ike mostly plays indexes and techs but does dabble in oils and is usually correct when he does.

Message 10380834

Message 10383497

Happy days!

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To: SargeK who wrote (330)7/5/1999 11:15:00 AM
From: Evolution
   of 337
 
Nice to hear from you, Sarge! EOM

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To: Evolution who wrote (333)11/4/1999 7:55:00 PM
From: Brian
   of 337
 
Whew, managed to stay 1/16 above the 52 week low. Are we seeing year end tax loss selling yet or is this just market jitters?

Brian

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