U.S. Oil & Gas Plc.
(“US Oil” or the “Company”)
Notice of AGM and Update
NOTICE OF AGM
U.S. Oil & Gas Plc, (“USOIL” or the “Company”), the oil and gas exploration company with assets in Nevada, makes the following announcement:
The Company’s Annual General Meeting (“AGM”) will be held on 29 April, 2022 at 11.00 a.m. at Alexandra House, the Sweepstakes, Ballsbridge Park, Ballsbridge, Dublin 4, D04 C7H2, Ireland.
Due to the current high level of reported COVID-19 infections, U.S. Oil and Gas plc has put in place arrangements to protect the wellbeing of shareholders and company officers. AGM proceedings will be conducted via teleconference from the company’s headquarters, Alexandra House, the Sweepstakes, Ballsbridge Park, Ballsbridge, Dublin 4, D04 C7H2. Full details are outlined below.
Notice of the AGM, a form of proxy and the Annual Report and Accounts (see also www.usoilandgas.us) for the period ended 31 July 2021 (the “Documents”) were posted to shareholders on 6 April 2022, including information on how to use the electronic voting facility.
To receive and consider the financial statements for the year ended 31 July 2021 and the reports of the Directors and Auditors thereon
Re-election of Karim Toma Akrawi as a Director
To re appoint Nexia Smith & Williamson Chartered Accountants as Auditors
4. Authorisation to allot equity securities otherwise than in accordance with statutory pre-emption rights
We strongly advise our shareholders to submit their proxy forms by post or electronically to ensure their vote counts at the AGM.
Voting and conference call details
We request all shareholders to refrain from attending the AGM in person, but instead:
– to vote: please use the proxy voting services (electronic and/or paper) available to all shareholders as set out. Voting by proxy is the means by which a great majority of the shareholders usually vote at the AGM. Any shareholders who need further information in respect of the proxy voting or require assistance in submitting their vote using this service, should call the Registrars of the Company, Computershare Investor Services (Ireland) Limited on + 353(0)1 447 5566; and
– to raise questions: please submit any questions that you would like to ask and/or might otherwise have asked in person at the AGM in advance in writing by either (A) post to AGM 2022, US OIL and Gas, Alexandra House, the Sweepstakes, Ballsbridge Park, Ballsbridge, Dublin 4, D04 C7H2 so as to arrive by no later than 11.00 a.m. on 27 April 2022, or (B) email to [email protected] by no later than 11.00 a.m. on 27 April 2022. All correspondence should include sufficient information to identify you as a shareholder on the Register of Members. Further details and teleconference dial-in numbers are set out in the Notes to the notice of AGM.
All resolutions at the AGM will be put to a poll (which incorporates proxy votes received 48 hours prior to the time of the meeting). Shareholders are encouraged to submit their proxy votes as soon as possible but in any event no later than 11.00 a.m. on 27 April 2022. We encourage shareholders to appoint the Chairman of the meeting as their proxy.
The results of the votes at the meeting will be announced on the Company website as soon as practicable after the conclusion of the AGM.
Copies of the Documents will be available for inspection for one month from today’s date, free of charge, from the Company’s registered office at: Alexandra House, The Sweepstakes, Ballsbridge, Dublin 4, Republic of Ireland.
Lease suspension/extension requests
As previously reported, the company has applied to the Bureau of Land Management (BLM) for the suspension of certain leases in order that their terms be extended. Although the Board has grounds for believing that some or all of the requests will be approved, no formal notification of the BLM’s final decision has yet been received.
The Company is currently engaged in active discussions with potential funders and will inform shareholders of the outcome in due course.
The statements in this communication reflect the current thinking of the Board and the Company’s present plans. The Company reserves the right to alter plans in the light of developing knowledge and circumstances. Shareholders’ attention is drawn to the note below concerning Forward-looking Statements.
This press release contains certain “forward-looking statements” and “forward-looking information”. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to: business plans and strategies of US Oil and Gas; operating or technical difficulties in connection with drilling or development activities; availability and costs associated with inputs and labour; drilling and exploration costs; the speculative nature of oil exploration and development; diminishing quantities or quality of reserves; synergies and financial impact of completed acquisitions; the benefits of the acquisitions and the development potential of properties of US Oil and Gas; the future price of oil; supply and demand for oil; the estimation of reserves; the realization of reserve estimates; costs of production and projections of costs; success of exploration activities; capital expenditure programs and the timing and method of financing thereof; the ability of US Oil and Gas to achieve drilling success consistent with management’s expectations; net present values of future net revenues from reserves; expected levels of royalty rates, operating costs, general and administrative costs, costs of services and other costs and expenses; expectations regarding the ability to raise capital and to add to reserves through acquisitions, assessments of the value of acquisitions and exploration and development programs; geological, technical, drilling and processing problems; treatment under governmental regulatory regimes and tax laws.
All statements other than statements of historical fact are forward-looking statements
THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT
Neither this announcement nor the information contained herein constitutes an offer or solicitation by U.S. Oil and Gas Plc for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful.
For further information contact:
Brian McDonnell, Chief Executive Officer +353 (1) 631 9022
About U.S. Oil & Gas:
U.S. Oil & Gas plc is an 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.usoilandgas.us