Mr. Trent Yanko reports

LEGACY OIL + GAS INC. ANNOUNCES INCREASE IN BANK LINE

Legacy Oil + Gas Inc.'s banking syndicate, led by BMO Capital Markets and including National Bank, Bank of Nova Scotia, ATB Financial, Canadian Imperial Bank of Commerce, JP Morgan Chase Bank NA and Toronto-Dominion Bank, has increased the borrowing base from the previous $450-million to $525-million. The next interim review is scheduled for Oct. 31, 2012.

The increase is due to Legacy's high netback light oil reserves, long reserve life and increased production over the past year, and continues to provide Legacy with significant financial flexibility with which to conduct its operations.