29 October 2012 - U.S. Oil and Gas Plc - Recent Media Speculation
U.S. Oil and Gas Plc
("US Oil" or "the Company")
Recent Media Speculation
U.S Oil and Gas Plc (GXG: USOP) (the "Company"), the oil and gas exploration company with exploration assets in Nevada, makes the following statement.
The Company notes recent share volume changes possibly prompted by speculation in the media and online regarding possible results from its Eblana #1 well test programme.
The Company wishes to emphasise that testing is not yet complete, and no interim results or information have been communicated to any third party.
When testing and analysis is complete, the market will be informed of the results via the Company's regulatory news service.
THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT
For further information contact:
Brian McDonnell, Chief Executive Officer +353 (0) 87 238 3419
Alexander David Securities Ltd - Corporate Finance Adviser
Fiona Kinghorn/David Scott +44 (0) 20 7448 9800
Jonathan Charles +44 (0)779 189 2509
Simon Kiero-Watson +44 (0) 20 7653 1935
Alex Benger +44 (0) 20 7653 1935
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.
For further information please refer to our website at: www.usoil.US