Through the Acquisition, Legacy is acquiring 800 Bbl/d (2010...

Through the Acquisition, Legacy is acquiring 800 Bbl/d (2010 exit rate) of high quality, high netback, light oil assets in an early stage resource play focused in the Pierson area of southwest Manitoba for total consideration of approximately $185.4 million (subject to customary closing adjustments) consisting of $93 million in cash and 6.18 million Legacy common shares (subject to a 180 day escrow). In addition, Legacy is acquiring eight gross (6.0 net) standing wells awaiting completion. With the Acquisition, Legacy increases its significant oil and NGL weighting to approximately 84 percent of proforma production and proved plus probable reserves.

Read more: http://www.benzinga.com/pressreleases/11/02/m823484/legacy-oil-gas-inc-announces-significant-light-oil-asset-acquisition-and#ixzz1Cie6q4fo