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 July, 2012 - U.S. Oil & Gas Plc - Placing of Ordinary Shares

                                              U.S. Oil & Gas Plc.
                                                       
                                         ("U.S. Oil" or the "Company")
                                                       

Placing of Ordinary Shares

U.S.   Oil  &  Gas plc (GXG: USOP), an oil and gas exploration company focused on Nevada, USA,  is  pleased  to announce that it has conditionally placed 284,019 New Ordinary Shares (the "Placing Shares") at a  price of STG 4.00 per share (the "Placing" to raise gross proceeds of circa $1,785,167.

Highlights:

    *       Placing is to raise $1,785,167;
        
    *       Net proceeds provide immediate boost to US Oil's existing working capital position;
        
    *       Allows additional headroom for proceeding with Eblana #1 workover programme, drilling Eblana #2 and
            extending survey activities to the Company's full acreage.

CEO Brian McDonnell said, 'This fund raising is a prudent step allowing for contingencies as we move ahead with our planned workover and exploration activities.'

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
beamac@eircom.net

Lionsgate Communications - Financial Public Relations

Jonathan Charles +44 (0)7791892509
jcharles@lionsgatecomms.com

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

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