U.S. OIL and GAS plc's (Ticker: USOP) core activities are in the USA, with ongoing exploration activity in Nevada where the company holds a large lease acreage.

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U.S. Oil & Gas plc was formed to exploit the potential for substantial oil and gas finds in one of North America's most prolific oil producing regions, using the most advanced technology available.

U.S. Oil & Gas plc’s (Ticker: USOP) core activities are in the USA, with exploration activity in Nevada where the company holds a large lease acreage and is fully funded to drill three wells.

U.S. Oil has collected 18 complimentary data sets from its acreage, including data from 3-D Passive Seismic (IPDS) surveying– the most advanced oil exploration technology of its kind.  A February 2012 Competent Person's Report by Forrest Garb & Associates estimates Gross Prospective Resources of 189 MMSTB OOIP (P50)and 67 MMSTB recoverable oil.

Forrest Garb & Associates CPR covering letter

On the basis of its surveys, U.S. Oil has identified its first drilling targets and has been awarded a Permit to Drill by the US authorities.  A contract has been signed with drilling contractor Nabors Industries Inc., the largest drilling contractor in the world.   Earth mobilisation and site construction at the Eblana #1 location in readiness for the spudding of the Company's first exploration well began on April 3rd 2012.  Equipment mobilisation is scheduled for April 27.

Spudding of exploration well Eblana #1 is due to take place on May 5th 2012. The targeted drilling depth is approximately 8,000 feet.


The Investment Case
Progress to date

The Company's’s aim is to build on its current exploration base and bring new opportunities to the pre-production stage as well as to identify strategic partners to jointly develop and/or sell the target assets.  U.S. Oil & Gas continually researches the potential for additional lease acreage to augment its current portfolio.