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Microcap & Penny Stocks : LGOV - Largo Vista Group, Ltd.

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To: Dusty who wrote (767)	4/16/1998 7:23:00 AM
From: cliff emohs	Read Replies (1) of 7209

Just a lurker and I saw this: Thursday April 16, 6:00 am Eastern Time Company Press Release SOURCE: Largo Vista Group LTD Largo Vista Group Announces LPG Pipeline Groundbreaking NEWPORT BEACH, Calif, April 16 /PRNewswire/ -- Largo Vista Group LTD. (OTC Bulletin Board: LGOV - news; www.largovista.com) has announced that subsidiary Kunming Xinmao Industrial Petrochemical Co. Ltd. has started construction of a 20,000 customer LPG pipeline station in Yuxi County (pop: 5.8 million) in the Yunnan Province, China. The Yuxi project is the fourth such venture in the last 6 months for Xinmao. Since Largo Vista took over May 12 1997, Xinmao has completed three similar pipeline station projects. Demand for these projects is very high. China's 4kg per household average annual LPG usage is far below other Asian nations, which average 45kg of LPG annually per household. Daniel Mendez, President of Largo Vista stated ''LPG demand was verified at the 1998 China LPG Conference, February 26th which Xinmao sponsored. Statistics from Beijing confirmed that coal usage in China has dropped from a high of 95% in the 1960's to approximately 70% in the 1990's. A further decline in coal usage is certain, as we witness local governments passing strong laws prohibiting the use of coal in many areas to support environmental preservation. As we predicted, LPG usage has risen approximately the same amount to make up the difference. Projections based on current LPG consumption predict that supply won't meet demand until the year 2010. This assures Xinmao of more than ten years of strong growth. Meanwhile, Xinmao has filed for a contractor license in China to act as its own builder; this action will drive down current construction costs and increase our profit margins.'' For more information call Investor Relations 714-252-2180 SOURCE: Largo Vista Group LTD More Quotes and News: Largo Vista Group Ltd (OTC BB:LGOV - news) Related News Categories: oil/energy

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