U.S. Oil and Gas Plc. (“US Oil” or the “Company”)
US Oil and Gas – Suspension of Trading
U.S. Oil and Gas plc (PLUS: USOP), the oil and gas exploration company with its main asset in Nevada, USA, announces that its shares have been suspended today. The Directors will issue an update as soon as possible.
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 – Broker Ian Callaway / Alex Mattey +44 (0)20 7638 5600 [email protected]
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
(END) Dow Jones Newswires
August 23, 2011 13:20 ET (17:20 GMT)