March 31, 2011 — In accordance with the PLUS Rules, the Board of U.S. Oil and Gas plc confirms that the Company has 37,541,082 ordinary shares of €0.0001 each in issue, with each ordinary share holding one voting right. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company. The Company’s total issued share capital is EUR3,754.11.

THE DIRECTORS OF THE COMPANY ACCEPT 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) 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

USOil 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