U.S. Oil and Gas Plc. (“US Oil” or the “Company”) US Oil – AGM Update U.S. Oil and Gas plc (PLUS: USOP), the oil and gas exploration company with its main asset in Nevada, USA, announced yesterday that due to the suspension of trading in the Company’s shares, its AGM has been adjourned to Tuesday 25th October.
US Oil’s shares were suspended at 10.00AM on Tuesday 23rd August, in accordance with Rule 78 of the PLUS Rules for Issuers. Plus has communicated to the Company that the background to the suspension are concerns relating to possible disorderly trading in the securities of US Oil and Gas. An investigation is under way and is being progressed as efficiently as possible. PLUS Regulation has also stated that it is precluded from identifying any individuals the subject of regulatory investigation.
The Company will continue to update the market on any significant news regarding operations through Regulatory Information Service announcements in the normal way.
THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT For further information contact:
SVS Securities plc – PLUS Corporate AdviserPeter Ward / Alexander Brearley +44 (0)20 7638 5600
SVS Securities plc – BrokerIan Callaway / Alex Mattey +44 (0)20 7638 [email protected]
Lionsgate Communications – Financial PRNatalia Egorova +44 (0)[email protected]
Notes to Editors
U.S. Oil and Gas plc is a PLUS (Ticker: USOP) listed 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 in to 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 further information please refer to our website at: www.usoil.us U.S. OIL AND GAS PLC (END) Dow Jones NewswiresSeptember 23, 2011 07:05 ET (11:05 GMT)