EVER since she was a young girl, Lisa Chung Mo-ching has dreamed of studying at the prestigious Oxford University. At 5 pm yesterday the 18-year-old former St Paul's Co-educational College student was chewing her fingernails as she waited for a telephone call to tell her whether her selection interview two hours earlier for a place at Oxford's Wadham College had been successful. Three hours later she was wining and dining in a plush Grand Hyatt Hotel salon with judges, doctors and other Hong Kong notables who had gathered to toast her and three other students for winning the ultimate academic accolade - a full scholarship allowing them direct entry to Oxford in October. Lisa, who will study law, will be joined by Law Man-chung of Queen's College, who also intends to read law, and prospective engineering students Lee Hung-bun of Salesian English school and Liu Yan-kit of Ng Wah College. All achieved incredible Advanced Level examination results which, combined with their personalities, interests and determination, saw them benefit from the annual Lee Shau Kee Scholarship to Wadham College. Mr Lee is chairman of Henderson Land Development. Lisa said last night: ''I'm so excited. It is almost unbelievable. ''When the phone rang, I picked it up and was invited to a party to celebrate being awarded a scholarship. It's the best day of my life.'' She added she is looking forward to the more liberal teaching methods and open-minded thinking at Oxford. ''It will certainly be a change from the regimented education in Hong Kong and I'm looking forward to it tremendously,'' she said.