Pukin.Remembering the cash/shares (6,180,000 of them) transfer...

Pukin.

Remembering the cash/shares (6,180,000 of them) transfer was at C$16.62 for C$102.7m, so we're still about 30% in the red (-C$38.5m).

Legacy hit C$10.59 on Friday before profit taking and closed at C$10.38.

Might be a couple reasons for the recent jump in price:

First, there have been a number of broker reports in the past couple of weeks. They all vary in target price, but then again when are they ever right.

Jennings Capital released their oil and gas watchlist on Fri 2/12 and their target for LEG is C$20.00. Not sure of their credibility.

Another said LEG "offers the best value among oil-weighted juniors/intermediates". It the best valued oil and gas stock in North America. Around C$15 is fair value and it's only a matter of time before they get there. It is rated "Sector Outperform" with a target price of C$15.25.

Second, the recent downtrend price channel has been broken. By the looks of the chart buyers came in once confirmation of this line being cleared.