Yes it will work, just try it and you'll see. On condition that the sheets are named 'Data OEE', 'Data Line 1' and so on.
What happens is this: before each successive execution of the LOAD statement, the script engine will pre-scan the text of the LOAD statement (including the table name and semicolon), and replace all occurrences of dollar substitution strings with their respective values. The funny thing is, you can replace everything with a $(name) tag, even the table name, the LOAD keyword and the semicolon. Not that it serves any use