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Press release from CNW Group

Legacy Oil + Gas Inc. announces exercise of over-allotment option

Friday, August 06, 2010

Legacy Oil + Gas Inc. announces exercise of over-allotment option09:58 EDT Friday, August 06, 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, Aug. 6 /CNW/ - Legacy Oil + Gas Inc. ("Legacy") (TSX:LEG) is pleased to announce that the underwriters for its recently completed $236 million bought deal financing have exercised their over-allotment option in full. As a result of the exercise of the over-allotment option, Legacy has today issued a total of 3,000,000 common shares at a price of $11.80 per share for gross aggregate proceeds of $35,400,000. The underwriting syndicate for the financing was co-led by GMP Securities L.P. and Macquarie Capital Markets Canada Ltd. and included FirstEnergy Capital Corp., BMO Capital Markets, National Bank Financial Inc., Canaccord Genuity Corp., Cormark Securities Inc., Raymond James Ltd. and Scotia Capital Inc.Legacy is a uniquely positioned, technically driven intermediate oil and natural gas company with a proven management team committed to aggressive, cost-effective growth of light oil reserves and production in large hydrocarbon in-place assets and resource plays. Legacy's common shares trade on the TSX under the symbol LEG.This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities in the United States, nor shall there be any sale of securities mentioned in this press release in any state in the United States in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.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