I've a little free time today so I thought I'd try and further my understanding of the Local command. Can someone explain to me in simple terms what are the practical differences in the following code sequences?

* Sequence 1
oExcel = CREATEOBJECT("excel.application")

* Sequence 2
Local oExcel
oExcel = CREATEOBJECT("excel.application")

* Sequence 3
Local oExcel as "excel.application"
oExcel = CREATEOBJECT("excel.application")

I assume in the first case oExcel would be private so it would be visible to subsequent routines, but what about the other 2?

Thanks