Legend Oil & Gas (LOGL)
Legend Oil & Gas is an oil and gas production and exploration company focused on the dual stratedgy of developing its exisisting oil producing assets, while seeking projects with significant “Blue Sky” potential in the oil-prone shale plays of North America.
Legend Oil and Gas acquired the Piqua project with a view toward using revenues to enhance cash flow and support field initiatives. With a projected net operating income of $140,000/year (based on an oil price of $70 per barrel and keeping operating expenses constant), the project’s monthly cash flow is expected to cover general and administrative expenses, while providing additional capital for the development of the property.
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