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.

27 October 2011 - US Oil & Gas plc - Adjourned Annual General Meeting (“AGM”) Results

27 October 2011

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

ian.callaway@svssecurities.com

 

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