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Press release from CNW Group

Bronco announces closing of plan of arrangement

Thursday, November 04, 2010

Bronco announces closing of plan of arrangement13:24 EDT Thursday, November 04, 2010CALGARY, Nov. 4 /CNW/ - Bronco Energy Ltd. ("Bronco") (TSX:BCF) announces the closing today of the acquisition of Bronco by Legacy Oil + Gas Inc. ("Legacy") (TSX:LEG) by way of a plan of arrangement.Legacy acquired all of the outstanding common shares of Bronco and all of the principal amount of 6% secured subordinated debentures of Bronco. Holders of common shares of Bronco received an aggregate of 862,893 common shares of Legacy (or 0.0182 common shares of Legacy for each share of Bronco) and holders of 6% secured subordinated debentures of Bronco received an aggregate of $25,546,400 in cash (or $1,100 per $1,000 principal amount of debentures). The common shares of Bronco will be delisted from the Toronto Stock Exchange.Bronco encourages holders of its common shares and debentures to complete their letters of transmittal or instruct their brokers to do so on their behalf. Holders of common shares and debentures have five years from today's date to submit their letter of transmittal. Any certificate representing common shares or debentures that is not validly deposited by November 4, 2015 shall cease to represent a right or claim of any kind or nature.%SEDAR: 00023400EFor further information: Legacy Oil + Gas Inc.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: 403.441.2017Matt 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