31 August, 2012 – U.S. Oil & Gas Plc – Admission to MTF GXG

U.S. Oil & Gas Plc.

(“U.S. Oil” or the “Company”)

Admission to MTF GXG

1) Shares admitted to trading on the GXG Stock Exchange

U.S. Oil and Gas plc (“USOP” or “the Company”) is pleased to announce that its shares will be admitted to trading on the GXG Markets Multilateral Trading Facility (“MTF”) with effect from 31 August 2012.

2) Appointment of GXG Corporate Finance Adviser (“CFA”)

The Company announces, with immediate effect, the appointment of Alexander David Securities Ltd “Alexander David” as CFA under the MTF Rules for Issuing Companies. Alexander David is an Approved GXG Corporate Finance Adviser (CFA). It is also regulated by the FSA.

3) Director Shareholdings and the total number of shares in issue

Further to various announcements, the Directors would like to confirm that the total number of shares in issue is 41,682,356 and the shareholdings of the Directors are as follows:

Direct Indirect shareholding Total % holding

Brian McDonnell* 3,714,191* Carrefour Training and 3,854,191** 9.25
Development Ltd.


Peter Whelan 564,118 564,118 1.35

Karim Akrawi 100,000 100,000 0.24

* A further c. 518,639 (1.24%) shares are held by members of Brian McDonnell’s immediate family in their own names.

** The Annual report showed a figure of 3,854,091. This should have read 3,854,191. An additional 100 shares are held by Brian McDonnell dating back to the Company’s incorporation when 7 shares were issued fully paid to the subscribers to the memorandum of association. 1 share was issued to Brian McDonnell. Each share was then split on 11 November 2009 into 100 ordinary shares.

Spurt Concepts Limited (“Spurt”)

In addition, Spurt currently holds 3,000,000 (7.2%) shares in U.S. Oil and Gas plc. These shares are held in trust by Spurt, a special purpose vehicle, set up to hold three million ordinary shares in US Oil & Gas Plc for the benefit of the shareholders of Captive Audience Display Solutions Plc(1) (‘the Underlying Shareholders’). The main object clause of Spurt is to ‘distribute the value of these shares, either directly as shares or by
cash proceeds of the sale of the shares in US Oil & Gas Plc to the shareholders of Captive Audience Display Solutions Plc or to purchase the shares of Captive Audience Display Solutions Plc at such time and in such amounts as the directors of the company, in their sole discretion, see fit.

Following a board meeting on 16 August 2012, the Directors of Spurt have informed the Company that the Spurt Directors have resolved to distribute the shares in U.S Oil and Gas plc to the c.450 Underlying Shareholders. Further announcements will be made in due course.

4) About the GXG Exchange

GXG Markets operates an European Regulated Market and Multilateral Trading Facility (“MTF”). All shares trading on GXG Markets takes place through GXG’s proprietary electronic trading platform that provides regulated brokers with direct market access so that brokers can:

– see the order book for each security, for both the prices and volumes available;

– place orders to buy and sell at prices and volumes that suit their investors; and – report trades that have been agreed with their clients.

The Directors believe that by providing direct market access, GXG Markets offer a more transparent trading model with prices set by the last traded price rather than by a market maker. This, they believe, delivers faster trade reporting and eliminates spreads between the price a buyer pays and the price a seller obtains.

Commenting on the Admission, Brian McDonnell said ‘We are delighted to be trading on the GXG MTF Market as the shares will now be available to a wider range of potential investors. We are also pleased to be working with Alexander David Securities as our Corporate Advisor, and look forward with them to the next stage in the company’s development.’

(1) Renamed Proventus Renewables plc, following the reverse takeover completed on 23 May 2012.


For further information contact:

For further information on this announcement please contact:

U.S. Oil & Gas plc

Brian McDonnell, Chief Executive Officer +353 (0) 87 238 3419

Alexander David Securities Ltd – Corporate Finance Adviser

Fiona Kinghorn/David Scott +44 (0) 20 7448 9800

Lionsgate Communications – Financial Public Relations

Jonathan Charles +44 (0)7779 189 2509

[email protected]

GXG Markets

Simon Kiero-Watson +44 (0) 20 7653 1935

[email protected]

Alex Benger +44 (0) 20 7653 1935

[email protected]

Notes to Editors

U.S. Oil & Gas plc is a GXG 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.

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

U.S. Oil & Gas PLC