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Press release from CNW Group

Legacy Oil + Gas Inc. announces increases in bank line; filing of meeting materials and Annual Report and change to Annual Meeting date and location

Friday, April 30, 2010

Legacy Oil + Gas Inc. announces increases in bank line; filing of meeting materials and Annual Report and change to Annual Meeting date and location13:48 EDT Friday, April 30, 2010/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./CALGARY, April 30 /CNW/ - Legacy Oil + Gas Inc. ("Legacy")(TSX: LEG) is pleased to announce that its banking syndicate, led by BMO Capital Markets and including National Bank, the Bank of Nova Scotia and ATB Financial, has completed its review and has increased the Borrowing Base to $125 million, from the previous $110 million. The next interim review is scheduled for October 31, 2010. The increase continues to provide Legacy with significant financial flexibility with which to conduct its operations.In addition, Legacy has filed and mailed to the applicable shareholders its annual report for 2009 and the proxy materials for its Annual General and Special Meeting. These documents may be found on www.sedar.com.Legacy has changed the date and location of its Annual General and Special Meeting of shareholders. The meeting is now scheduled to be held at 10:00 am on Wednesday, May 26, 2010 in the Wildrose Centre, Sheraton Suites Calgary Eau Claire, Calgary, Alberta.Legacy is a uniquely positioned, well-capitalized junior oil and natural gas company with a proven management team committed to aggressive, cost-effective growth of light oil reserves and production in Saskatchewan and Manitoba. Legacy's common shares trade on the TSX Exchange under the symbol LEG.NEITHER THE TSX NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.%SEDAR: 00023400EFor further information: Trent J. Yanko, P.Eng., President + CEO, Legacy Oil + Gas Inc., 3900, Bow Valley Square II, 205 - 5th Avenue S.W., Calgary, AB, T2P 2V7, Telephone: (403) 441-2300, Fax: (403) 441-2017; Matt Janisch, P.Eng., Vice-President, Finance + CFO, Legacy Oil + Gas Inc., 3900, Bow Valley Square II, 205 - 5th Avenue S.W., Calgary, AB, T2P 2V7, Telephone: (403) 441-2300 Fax: (403) 441-2017