U.S. Oil & Gas plc, an oil and gas exploration company, has announced its intention to float on London’s Plus Market Exchange in early November 2009.
SVS Securities plc has been appointed as corporate advisor and broker to the company.
U.S. Oil & Gas plc is an oil exploration company, which has acquired the entire share capital of US-based oil and gas company Major Oil International LLC. The primary assets of Major OIL International LLC are leases covering 19 sq. km of land in Hot Creek Valley, Nye County, Nevada.
“Of all the United States’ oil-bearing regions, Nevada is one of the least exploited,” says Brian McDonnell, U.S. Oil & Gas’ CEO. “Geologists believe one 250 sq mile area alone holds 31 billion barrels of oil. Large finds have already been made – the Covenant field has yielded over a billion barrels.’’
The company has already carried out Well Log Analysis, Gravity Magnetic Surveying and the interpretation of available 2D seismic data.
Brian McDonnell says, ‘We are delighted to be seeking a listing on PLUS Markets, as we look to build on the promising results of our exploration to date. Seismic, well and geophysical studies will be followed by a targeted drilling programme.’
TAGS: USA, crude, development acquisition, exploration, gas, M&A, oil, PLUS, U.S. Oil & Gas, USOIL, press releases,
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For further information contact:
Brian McDonnell Chief Executive Officer Tel: +353-87-2383419
U.S. Oil and Gas plc is an Irish registered company No. 471932 70 Ballybough Road Dublin 3 Tel: +353-1-8230510 Fax: +353-1-8230511 www.usoil.us
Notes to Editors
US.Oil and Gas Plc is an independent oil & gas exploration group, which is shortly to be quoted on the Plus Market in London. The Group holds exploration acreage In Nevada, USA.
USOIL is ready to start, seismic, well and geophysical studies to be followed by a targeted drilling programme.
For further information please refer to our website at: www.usoil.us and press room at: www.usoil.us/press-room