31 May, 2012 - U.S. Oil & Gas plc - Share Transfers
U.S Oil & Gas Plc - Share Transfers
U.S. Oil & Gas Plc.
("U.S. Oil" or the "Company")
U.S. Oil and Gas plc (PLUS:USOP), the oil and gas exploration company with exploration assets in Nye County, Nevada makes the following announcement.
Dave and Bobbi Murphey, suppliers on Eblana #1 well have exercised a right contained in the terms of their contract, which relates to them taking 3,465 ordinary shares in the capital of the Company in lieu of payment. The aforementioned 3,465 ordinary shares will be transferred from the Company's treasury forthwith.
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
Jonathan Charles +44 (0)77791892509
Notes to Editors
U.S. Oil & Gas plc is a GXG 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.
U.S. 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