U.S. Oil and Gas plc (“U.S. Oil” or “the Company”) Adjourned Annual General Meeting (“AGM”) Results
U.S. Oil and Gas plc (PLUS: USOP), an oil and gas exploration company with its main assets in Nevada, USA, hereby announces the results of its adjourned AGM held on the 25th October, 2011 in the Hotel Kilkenny, Kilkenny, Republic of Ireland as follows:
Ordinary Business
Resolution 1
To receive and consider Statements of Account for the year ended 30 September 2010 and the reports of the directors and auditors thereon
Results of the Vote: Approved
Resolution 2
To elect Chris Comerford as a director
Results of the Vote: Declined
Resolution 3
To elect Chris Comerford as a member to the Audit Committee and the Remuneration Committee of the Company
Results of the Vote: Declined
Resolution 4
To re-elect Jimmy Guiry
Results of the Vote: Declined
Resolution 5
To authorise the directors to fix the auditors remuneration
Results of the Vote: Approved
Resolution 6
To empower the directors to allot equity securities
Results of the Vote: Approved
Special Business
Resolution 7
To authorise the Directors to establish an Employee Share Option Scheme
Results of the Vote: Declined
Resolution 8
Approve and adopt the new Memorandum and Articles of Association of the Company
Results of the Vote: Approved
No Poll was called in respect of any of the above mentioned Resolutions.
The results of the voting on the above mentioned Resolutions mean that Mr James Guiry, Non-Executive Chairman, was not re-elected as Director of the Company and Mr Chris Comerford was not elected as Director of the Company at the Annual General Meeting (AGM) of the Company held yesterday. As such, the Company’s board currently consists solely of Brian McDonnell.
U.S. Oil and Gas plc wishes to thank Mr. Guiry and Mr Comerford for their service to the Company.
Further announcements regarding the Company’s adjourned AGM held on the 25th October 2011 may be made as and when appropriate.
THE DIRECTOR OF THE COMPANY ACCEPTS RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT
—ENDS—
For further information contact:
U.S. Oil and Gas plc
Brian McDonnell, Chief Executive Officer +353 (0) 87 2383419
SVS Securities plc -PLUSCorporate Adviser
Peter Ward / Alexander Brearley +44 (0)20 7638 5600
SVS Securities plc – Broker
Ian Callaway / Alex Mattey +44 (0)20 7638 5600
Lionsgate Communications – Financial Public Relations
Natalia Egorova +44 (0)7500 828771
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.OILANDGASPLC
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