Legend Oil and Gas Ltd. Announces Annual ROTH Conference Presentation and Application to OTCQX

SEATTLE, March 2, 2012 /PRNewswire/ -- Legend Oil and Gas Ltd. (OTCBB: LOGL) ("Legend", the "Company") is pleased to announce it will be presenting at the 24th Annual ROTH Conference to be held March 11-14 at Ritz-Carlton, Laguna Niguel in Dana Point, California.  Marshall Diamond-Goldberg, President of the Company, is scheduled to present on Wednesday, March 14, 2012 from 1:00 – 1:30 pm in Salon 4 – Orange Track.  Interested parties may listen via live audio broadcast over the Internet available at http://www.wsw.com/webcast/roth26/.  The Annual ROTH Conference brings together executives from over 400 growth companies and is one of the largest of its kind in the United States. The event is designed to provide the investment community with the opportunity to gain insight into small and mid-cap growth companies across a variety of sectors.

The Company also announced that it has submitted an application for trading of its common stock on the OTCQX, which is the most senior over-the-counter market in the U.S. Acceptance on the OTCQX would terminate the outstanding "put" rights held by holders of Company Convertible Preferred Stock and by International Sovereign Resources (which put rights are exercisable only in the event that the Company is not listed or quoted for trading on a market more senior than the OTCBB on or before March 31, 2012). Marshall Diamond-Goldberg, President of Legend, stated, "The OTCQX is the highest tier of the U.S. Over-the-Counter (OTC) markets designed exclusively for companies that meet high financial standards and undergo a qualitative review. We believe that having our shares quoted for trading on this platform will increase Legend's visibility and profile in the marketplace."

ROTH Capital Partners LLC has agreed to serve as the Company's Designated Advisor for Disclosure (DAD) on the OTCQX, responsible for providing guidance on OTCQX requirements once Legend's application is approved. The Company anticipates the OTCQX review process will be finalized by the middle of March 2012; however, there are no assurances as to when our application for trading on the OTCQX will be approved.

About ROTH Capital Partners

ROTH is an investment banking firm dedicated to the small-cap public market. Since its inception in 1984, ROTH has been an innovator in this market. Headquartered in Newport Beach, CA, ROTH has regional offices in San Diego, Los Angeles, Seattle, New York and Pennsylvania. International offices include a Shanghai Representative Office and a Hong Kong Limited Office. 

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX: OTCM.PK - News) operates the world's largest OTC marketplace for equity securities.  The OTC Link® trading system delivers price transparency in over 10,000 securities and enables direct interaction between broker-dealers that provide liquidity and execution services.  OTC Markets Group organizes the marketplace by categorizing the wide spectrum of OTC-traded companies into three tiers: OTCQX - The Intelligent Marketplace for the Best OTC Companies; OTCQB® - The Venture Marketplace; and OTC Pink® - The Open Marketplace.  Its information-driven platform makes it easy for investors to trade at the best price through the broker of their choice and empowers companies to build the best markets for their investors.  To learn more about the OTCQX, visit www.otcmarkets.com.

About Legend Oil and Gas Ltd.

Legend Oil and Gas Ltd. is a managed risk, oil and gas exploration/exploitation, development and production company with activities currently focused on leases in Canada, southeastern Kansas and northern North Dakota.

Investor Contact

Barry Gross, Investor Relations

[email protected]

361-949-4999

Forward-looking Statements:

This press release contains forward-looking statements concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Forward looking statements in this press release include statements about our drilling development program.  These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, increased expenses or unanticipated difficulties in drilling wells, actual production being less than our development tests, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with oil and gas operations in the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as "probable," "possible," "recoverable" or "potential" reserves among others, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Investors are urged to consider closely the disclosure in our filings with the SEC.

SOURCE Legend Oil and Gas Ltd.