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Microcap & Penny Stocks : LGOV - Largo Vista Group, Ltd. -- Ignore unavailable to you. Want to Upgrade?

To: jmhollen who wrote (7075)	1/16/2001 9:49:24 AM
From: dkgross	Respond to of 7209

hey..keep it down, will ya? I get get any ESWW or LGOV til tomorrow. DAMNIT :>)

To: jmhollen who wrote (7075)	1/16/2001 9:51:03 AM
From: Evan	Read Replies (2) \| Respond to of 7209

Houston we have lift off :-) Sino-U.S. Company Leases LPG Depot in China NEWPORT BEACH, Calif., Jan 16 /PRNewswire/ -- Largo Vista Group Ltd. (OTC Bulletin Board: LGOV - news) today announced an agreement had been reached with Zunyi Commercial Transportation Petroleum & LPG Co., Ltd., a subsidiary of PetroChina, located in the Guizhou Province pop 30 million. The 5 year lease agreement with options gives full control of the LPG depot station, filling workshop, railway platform bridge including pipelines, office facilities and dormitories. In 1998 the government restructured the petrochemical and petroleum industry by making a clear division among PetroChina and China National Petrochemical Corp.(CNPC) and Sinopec, China's largest oil companies. After the reshuffle, Sinopec taps oil and gas reserves in southern and eastern China, CNPC controls the oil assets in the north, leaving PetroChina to inherit most of the best assets of CNPC. PetroChina and Sinopec have each agreed not to acquire oil stations in the others market. This clear-cut division of natural resources and exclusivity of consumer access establishes an entry barrier before the opening of the retail market to foreign investors under the WTO in approx. 3 years. At present, imported refined oil has been under a 69 % tariff. After WTO entry it will reduce to 6%. Mr. Li Chuming, one of Largo Vista's China representatives from Wuhan (located in the Hubei Province headquarters for Largo Vista), stated, ``This strategic move for Largo Vista will open the possibility of entering the refined oil side of the business through our lessor. Zunyi Petroleum is the current supplier of diesel fuel in that region and offers a less competitive market that should result in quick growth. As a comparison, Kunming Xinmao Industrial Petrochemical Co Ltd. Largo Vista's subsidiary based in Kunming, Yunnan Province, directly competes with the state owned LPG companies where bottom line profitability is not one of their primary goals. The overall upside, is that these state owned LPG companies are always restricted to one controlled county and cannot have a presence in other counties or provinces (states). This limits their competitive size and makes them prime merger/ acquisition candidates. To our knowledge we are still the only Sino-Foreign joint venture with controlling interest in any petrochemical retail operation in China. This is Largo Vista's third LPG depot with goals of controlling six additional in strategic areas. Once successful, we will increase our market share as the largest LPG retailer in China.`` For more information visit www.largovista.com or contact investor relations, 949-252-2180.