U.S. Oil and Gas Plc.
(“US Oil” or the “Company”)
Re. Trading Suspension
U.S. Oil and Gas plc (PLUS: USOP), the oil and gas exploration company with its main asset in Nevada, USA, previously confirmed that its Ordinary shares were suspended from trading on PLUS-quoted at 10.00AM on Tuesday 23rd August, in accordance with Rule 78 of the PLUS Rules for Issuers.
The Company has been in contact with the Plus Markets and to date has been given no reason for the suspension. No information has been requested from the company or its current directors. The company is presently not in a position to confirm when the suspension may be lifted.
The company acknowledges the difficulty this is causing shareholders and will inform shareholders of any developments as they occur.
We thank our shareholders for their continued patience.
THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT
For further information contact:
U.S. Oil and Gas plc
Brian McDonnell, Chief Executive Officer +353 (0) 872383419
Lionsgate Communications – Financial Public Relations
Natalia Egorova +44 (0) 7500 828771
Notes to Editors
U.S. Oil and Gas plc is a PLUS-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.
US Oil has completed extensive surveys of its Hot Creek lease area, generating 18 datasets using the following survey methods: Gravity and Magnetic Resonance, Geochemical, 2-D Seismic, Landsat remote sensing, Geophysical studies, Conodont Alteration Index (CAI), Pyrolysis (TOC), Vitronite Reflectance-Visual Kerogen (TAI), 2-D Passive Seismic (IPDS) and 3-D Passive Seismic.
For further information please refer to our website at: www.usoil.us
U.S. OIL AND GAS PLC
U.S. OIL AND GAS PLC
(END) Dow Jones Newswires
September 05, 2011 02:00 ET (06:00 GMT)