posted
I did some DD on this since their las PR...take a look, might be a killah play
Here's what I like...from a 10/04 PR
"Ms. Deng further stated: "Beijing has ordered the end usage of coal and wood, which makes LPG the logical answer. NG is very limited, however, someday it might be readily available. The great thing is that our pipelines can handle either. We have made our own specialty or, as I heard someone say, our 'niche market,' where the majors are not pursuing the retail market or downstream business - they are positioning themselves for the future in the upstream side. This is our window. I see us in the early stages of a utility company with no end to our potential growth. China has the largest retail market potential for LPG in the world!"
Another clip of the contract from the SEC filing.(pg10)
"On March 18, 2005, Largo Vista signed an Agreement and Assignment of Certain Contractual Rights and Benefits (the “Agreement”), with Shanghai Offshore Oil Group (HK) Co., Ltd. (“Shanghai Oil”). Under the Agreement, Shanghai Oil assigns to Largo Vista all of its rights under a prior contract with Asiacorp Investment Holding Ltd. to purchase fuel oil from Russia and deliver it to The People’s Republic of China (the “Asiacorp Contract”). The Agreement states that deliveries will begin no later than May 18, 2005 and continue for a period of thirty-seven (37) months at a rate of up to two hundred thousand (200,000) metric tons per month. The assigned Asiacorp Contract provides that the estimated value of the maximum potential deliveries over the life of the Agreement, at the market prices in effect at the time of the signing of the Asiacorp Contract on July 22, 2004, to be approximately one billion, two hundred thirty million, nine hundred sixty thousand dollars ($1,230,960,000.00). The Agreement provides that Largo Vista will be guaranteed a minimum of two dollars ($2.00) profit per metric ton, and that Shanghai Oil will continue to be responsible for the logistics and financing of the delivery of the fuel oil. In exchange, Largo Vista will issue to Shanghai Oil one hundred million (100,000,000) shares of Largo Vista’s common stock, to be issued in three increments, one-third within ten days of the signing of the Agreement or thirty days before the first delivery, the second one-third one year later, and the final one-third one year later. "
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