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 January, 2012 - U.S. Oil & Gas Plc - Re. Trading Suspension

27 January, 2012

US Oil and Gas plc
("US Oil" or "the Company")
Company Suspension

U.S. Oil and Gas (PLUS: USOP),  with exploration assets in Nevada, USA, announces  the  following  Trading  Suspension update.

PLUS suspension
On 23rd August 2011, ordinary shares in US Oil and Gas were suspended from trading on PLUS-quoted, in accordance  with Rule 78 of the PLUS Rules for Issuers.

On January 25th 2012, the Company held the latest of several recent discussions with PLUS to again voice the  profound concerns  of  the  Board and shareholders at the continuing suspension of US Oil and Gas  shares.  The  company  would prefer  to inform shareholders of the full details of this meeting, but PLUS has insisted that publishing such  detail would not be helpful.

US  Oil  regrets  the anxiety caused to shareholders by the suspension and by the Company's  continuing  inability  to communicate  details of its discussions with PLUS.  The Company can, however, confirm that an agreement  in  principle has been reached with a PLUS Markets Corporate Advisor, who is currently working with the Company, and details will be announced subject to lifting of the suspension.

THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT

For further information contact:

U.S. Oil and Gas plc
Brian McDonnell, Chief Executive Officer +353 (0) 872383419

Lionsgate Communications - Financial Public Relations
Natalia Egorova +44 (0)7500 828771
negorova@lionsgatecomms.com

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 centralNevada 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. OIL AND GAS PLC

(END) Dow Jones Newswires

January 27, 2012 12:16 ET (17:16 GMT)