21 March 2016 – U.S. Oil & Gas Plc.- Open Offer Update

U.S. Oil & Gas Plc.

(“U.S. Oil” or the “Company”)

Open Offer Update

Proposed Open Offer of 10,744,663 Ordinary Shares

To satisfy requests from certain Fund Managers and their clients, the Open Offer close has been extended by 14 days. The Open Offer close dates are now as follows:
Recommended latest time for requesting withdrawal of CREST Open Offer Entitlements from CREST: 16:30 on 12 April 2016
Latest time and date for depositing CREST Open Offer Entitlements into CREST: 15:00 on 13 April 2016
Latest time and date for splitting of Application Forms (to satisfy bona fide claims only): 15:00 on 14 April 2016
Latest time and date for receipt of completed Application Forms from Qualifying Shareholders and payment in full under the Open Offer or settlement of relevant CREST instruction (as appropriate): 11:00 on 15 April 2016
Announcement of the results of the Open Offer: 18 April 2016
New Ordinary Shares credited to CREST stock accounts: 08:00 19 April 2016
Despatch of definitive share certificates for New Ordinary Shares held in certificated form: On or before 28 April 2016


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 (1) 631 9022
Alexander David Securities Ltd – Corporate Finance Adviser
David Scott +44 (0) 20 7448 9820
James Dewhurst +44 (0) 20 7448 9820
Email: [email protected]

Definitions: The terms ‘Reserves’ and ‘Contingent Resources’ are as defined in the ‘Petroleum Resources Management System’ of the Society of Petroleum Engineers.

About U.S. Oil & Gas:

U.S. Oil & Gas plc is an 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.

In a May 2013, an independent Competent Person’s Report (CPR) by Forrest A. Garb & Associates (FGA) of Houston, Texas, estimated 19.2 million barrels Contingent Resources (C50) for a portion of the Company’s lease area in Hot Creek Valley Nevada. Since then, the Company’s stated intention has been to achieve Reserves status for some part of those estimated Resources.

For further information please refer to our website at: www.usoil.us