U.S. Oil & Gas plc
(“U.S. Oil” or the “Company”)
Trading commences for American Depository Receipt (“ADR”) Programme
U.S. Oil & Gas plc (GXG: USOP), an oil and gas exploration company
with exploration assets in Nevada, is pleased to announce that with
effect from 22 March 2013 trading has commenced on the
Over-the-Counter (“OTC”) market in the United States of America.
The Company has appointed Deutsche Bank as its Depository to establish
and maintain the ADR facility. Investors can find current disclosure
for the company on: otcmarkets.com/stock/USOPY/company-info.
Each ADR is equivalent to 10 U.S. Oil ordinary shares which are traded on the
London-based GXG Market.
Details of the U.S sponsored ADR programme are as follows:
U.S Exchange: OTC
CUSIP Number: 90346U107
ADR Ticker Symbol: USOPY
ADR Ratio: 1 ADR = 10 ordinary shares
Brian McDonnell, CEO of U.S. Oil, said, “The ADR programme is intended to
address interest from U.S. investors to participate in our Company.”
THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE
CONTENTS OF THIS ANNOUNCEMENT
Neither this announcement nor the information contained herein constitutes an
offer or solicitation by U.S. Oil and Gas plc for the purchase or sale of any
securities nor does it constitute a solicitation to any person in any jurisdiction
where solicitation would be unlawful.
For further information contact:
Brian McDonnell, Chief Executive Officer +353 (0) 87 238 3419
Alexander David Securities Ltd – Corporate Finance Adviser
Fiona Kinghorn/David Scott +44 (0) 20 7448 9800
Jonathan Charles +44 (0)779 189 2509
Simon Kiero-Watson +44 (0) 20 7653 1935
Alex Benger +44 (0) 20 7653 1935
ADR Broker Desk, Deutsche Bank
Simon Davies and Richard Willis
Tel: +44 (0) 20 7547-6500
Fax: +44 (0) 20 7547-9995
Tel: +1 212 250-9100
Fax: +1 732 544-6346
About American Depositary Receipts (ADRs)
An ADR is a negotiable certificate that represents ownership in securities
of a non U.S. company. ADRs are issued by a sponsoring U.S. bank and
denominated in U.S. dollars. An ADR represents a specified number of
shares (or one share) in a foreign stock that is traded on a U.S. exchange.
ADRs allow foreign companies shares to be traded in a similar manner to
shares in U.S. companies on the New York Stock Exchange (NYSE), the
American Stock Exchange (AMEX), Nasdaq and the over-the-counter (OTC)
market. ADRs enable U.S. citizens to acquire shares in a foreign company
without the need for cross border or cross currency transactions. Any
dividends and capital gains are in U.S. dollars.
About U.S. Oil & Gas
U.S. Oil & Gas plc is a GXG quoted (Ticker: USOP) oil and gas exploration
company with a strategy to identify and acquire oil and gas assets in the
early phase of the upstream life-cycle and mature them. The Company’s
main asset is in Nye County, Nevada where it holds the entire share capital
of US-based company Major Oil International LLC (“Major Oil”). Major Oil
has acquired rights to exploration and development acreage in Hot Creek
Valley, Nye County, adjacent to the oil and gas rich Railroad Valley area of
Nevada, both of which are part of the Sevier Thrust of central Nevada and
western Utah, USA.
U.S. Oil & Gas PLC.