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.

March 6, 2012 - U.S Oil & Gas Plc - Acquisition of Additional Acreage

Acquisition of Additional Acreage
6th March, 2012
 
                                              U.S. Oil & Gas Plc.
 
                                         ("U.S. Oil" or the "Company")
 
                                    Acquisition of Additional Lease Acreage
 
 
 
U.S.  Oil  & Gas plc (PLUS: USOP), the oil and gas exploration company with its main asset in Nevada,  USA,  is pleased  to  announce it has acquired additional lease acreage in Hot Creek Valley. Through  its  wholly  owned subsidiary,  Major  Oil  International LLC, U.S. Oil has leased  three  new  lots,  totaling  6,482  acres  and contiguous  with  existing  acreage, from the Nevada Bureau of Land Management.  The  company's  total  acreage position in Hot Creek Valley is now 22,221 acres (approx. 90 sq. km.).
 
U.S.  Oil's  intention in acquiring the new leases is to enhance the Company's Nevada asset, but it   does  not foresee expending significant exploration effort in advance of the currently planned drilling programme.
 
U.S. Oil's CEO Brian McDonnell said, 'With this latest acquisition, we now have what we believe to be a defined oil  play.  We  have scoped out a targeted programme of further exploration to build on our existing  knowledge base, which will be a logical next step in the development of our Nevada asset.'
 
 
THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT
 
 
For further information contact:
 
U.S. Oil & 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 & 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. OIL & GAS PLC
 
 
(END) Dow Jones Newswires

March 06, 2012 12:00 ET (17:00 GMT)