RE: RE: excellent JV!!!!Of course its huge!
~
We've just partnered with a serious force in the patch. Not to mention being the second biggest land holder in the area, next to CPG.
~
More on LEG:
~
Then last year in July, Yanko was back in the Bakken, extending his winning streak. A management team consisting of Paul Colborne, Dale Mennis, Matt Janisch and Yanko provided a $15.6- million non-brokered private placement for the recapitalization and consolidation of Glamis Resources into Legacy Oil + Gas, punting the company’s stock value from about $2 to $11.
~
“With Glamis, we mounted a very aggressive capital program and completed eight other transactions after the recapitalization, some of them simultaneously — three at once, two at once,”
~
Yanko says. “We built a company that has an asset base second to none and additional opportunities that are not even really visible to everybody.”
~
Officially one employee and a management team a year ago, Legacy today employs over 90 people, including consultants. Its capital budget for 2010 has swelled to $130 million. It expects to drill about 80 gross wells and is on track to exit the year at its production target of 12,700 barrels of oil equivalent per day. Technically driven, smart, diversified, counter cyclical, financially virtually bulletproof, and capable of hand-over-fist growth were just a few of the characteristics that qualified Legacy Oil + Gas to be included on Oilweek’s Producer of the Year shortlist. By industry vote, Legacy walked away with the prize.