Largo Vista Announces Completion of Second Pipeline Station In Zunyi, China; In Negotiations for Two More Pipelines
March 02 2004 - 12:25PM
PR Newswire (US)
Largo Vista Announces Completion of Second Pipeline Station In
Zunyi, China; In Negotiations for Two More Pipelines NEWPORT BEACH,
Calif., March 2 /PRNewswire-FirstCall/ -- Largo Vista Group, Ltd.
(BULLETIN BOARD: LGOV) , (http://www.largovista.com/) an
international energy trading and service company with headquarters
in the U.S. and offices in China and Vietnam, today announced that
its second liquid petroleum gas (LPG) pipeline station supplying a
residential complex in Zunyi, China, is complete. Largo Vista said
it is in negotiations to build two more pipeline projects in Zunyi,
Projects 3 & 4, and enjoys the full support of the local
government in this effort. "The first pipeline project built in
Zunyi is now completely paid for, 100 percent sold out to more than
1,000 condominium owners, and Largo Vista now will be able to
supply this development retail LPG for 40 years on an exclusive
basis," said Mr. Li Chuming, the Company's Representative in China.
Mr. Li explained that while thefirst pipeline project is designed
to be used by every condominium owner, only 40 percent of these
units are currently occupied. "The lack of occupancy has kept Largo
Vista from being profitable, but it is important to note that we
are locked in to provide all these residences LPG for 40 years,
which will mean significant income for the Company once all the
buyers move into their new homes." "We had a brief payment problem,
and stopped construction on the second pipeline, but we are pleased
that weresolved those issues," Mr. Li said. "City officials in
Zunyi realize that LPG service means higher prestige and value for
these residences, and we have won significant praise for this
project as an affordable, environmentally sound alternative to the
traditional use of coal or wood to cook and heat the home." Zunyi
is in Guizhou Province with a population of more than 40 million
people. Largo Vista also announced that it will post on its Web
site, http://www.largovista.com/, a President's Letter bringing
shareholders up-to-date on the Company's progress and business
strategies. Largo Vista is headquartered in Newport Beach, Ca.,
with offices in Vietnam and China. Forward-Looking Statements
Certain statements included herein may contain forward-looking
information within the meaning of Rule 175 under the Securities Act
of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934,
and are subject to the safe harbor created by those rules. All
statements, other than statements of fact, including, without
limitation, statements regarding potential future plans and
objectives of the company, are forward-looking statements that
involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements. The Company's actual results could differ
materially from those anticipated in such forward-looking
statements as a result of a number of factors. These risks and
uncertainties, and certain other related factors, are discussed in
the Company's Form 10-KSB, Form 10-QSB and other filings with the
Securities and Exchange Commission. These forward-looking
statements are made as of this date and the Company assumes no
obligation to update such forward- looking statements. These risks
and uncertainties, and certain other related factors, are discussed
in the Company's Form 10-K, Form 10-Q and other filings with the
Securities and Exchange Commission. Theseforward-looking statements
are made as of the date of this release and the Company assumes no
obligation to update such forward- looking statements. DATASOURCE:
Largo Vista Group, Ltd. CONTACT: Paul Knopick of E & E
Communications, +1-949-707-5365, for Largo Vista Group, Ltd. Web
site: http://www.largovista.com/
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