(“US Oil” or the “Company”)
Operations Update, Nye County, Nevada
Analysis of the structural fault systems and integration of the Hydrocarbon Resonance values and geochemical results show high correlations for US Oil’s first drilling target.
The Directors of U.S. Oil and Gas plc are pleased to announce that the technical analysis of the data collected at US Oil’s exploration acreage in Hot Creek Valley, Nevada, confirms an extremely high correlation between the Hydrocarbon Resonance Energy Distribution using IPDS technology and Geochemical Survey results.
The technical analysis by Geodynamics Research SRL examines the regional primary and secondary surface structure fault systems in conjunction with the results of the IPDS survey and UV-Vis Spectroscopy, Iodine and Soil electrical Analysis (umhos) for Eblana, Phase 1, Section 2 North.
The recent geochemical analysis in Section 2 North confirms three oil hydrocarbon seepages (Anomalies A, B and C) in Section 2, the Infrasonic Passive Seismic Spectroscopy and Ultra Violet – Visible Spectroscopy analysis, using the results of the Low Frequency Hydrcarbon Resonances Energy Distribution and Ultra Violet-Visible Spectroscopy within the Ultra Violet spectral region, are in high correlation around CCX031-CCX032 (Anomaly C) in the North of Section 2. Extrapolation of the Passive Seismic Data to the East from CCX032 also correlates strongly with UV Absorbtion around Anomaly C.
This correlation has again been confirmed by the analysis of the Hydrocarbon Resonance Energies distribution and Iodine distribution on the surface for CCX031-CCX032 (Anomaly C). The Soil Electrical Conductivity analysis again shows high correlation in the points identified with Section 2, North (Anomaly C). Further extrapolation of the Passive Seismic Data to the East from CCX032 correlates highly with the Iodine Presence (Anomaly B).
US Oil’s Chief Executive Officer, Brian McDonnell said, “this report confirms the excellent integrity of our data set, and reinforces our choice of first well drilling target, a location where we have an extremely high Direct Hydrocarbons Indicator reading of 0.96. We will continue to analyse the data and hope to confirm our ‘spudding in’ date for our first well target shortly.”
US Oil has identified two well drilling targets as part of its Eblana Phase 1 programme operations.
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
SVS Securities plc – PLUS Corporate Adviser
Peter Ward / Alexander Brearley +44 (0)20 7638 5600
SVS Securities plc
Ian Callaway / Alex Mattey +44 (0)20 7638 5600
Jonathan Charles +44 (0)20 7429 6611
[email protected] +44 (0)7791 892509
Notes to Editors
US Oil is a PLUS (Ticker: USOP) quoted 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 into marketable opportunities for the medium- and large-sized oil companies.
The Company’s main asset is in Nye County, Nevada where it holds the entire share capital of the US-based company Major Oil International LLC. Major Oil has acquired, and intends to acquire, rights to exploration and development acreage in two high potential resource areas 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.
For more information please visit: www.usoil.us