26 May 2015 - U.S. Oil & Gas Plc. - GXG Resumption of Trading
U.S. Oil & Gas Plc.
("U.S. Oil" or the "Company")
GXG Resumption of Trading
U.S. Oil & Gas Plc (GXG London: USOP, OTC New York: USOPY), the oil and gas
exploration company with assets in Nevada, is pleased to announce that GXG
Markets restored trading in the Company's securities at 9.00 CET, Tuesday 26th
of May 2015. This action follows the completion by GXG Markets of its
investigation and the findings of an independent Due Diligence Report that
confirmed that the Company had not misled the market.
In a previous announcement, the Company welcomed GXG Markets' appointment of an
independent Due Diligence consultancy. The Due Diligence Report encompassed
the history of the Company from September 2011, its communications with the
Market over a two year period, its discovery of oil in Hot Creek Valley, as
well as its governance and administrative processes.
The Company believes that the GXG Markets' investigation was prompted by
unfounded allegations made to GXG Markets, including anonymous internet
allegations. These allegations were contrived, vexatious and utterly without
US Oil and Gas CEO Brian McDonnell said: 'With the restoration of trading and
the independent Due Diligence Report, we can now move forward vigorously with
our corporate and exploration agendas.'
THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS
Neither this announcement nor the information contained herein constitutes an
offer or solicitation by U.S. Oil and Gas plc for the purchase or sale of any
securities nor does it constitute a solicitation to any person in any
jurisdiction where solicitation would be unlawful.
For further information contact:
Brian McDonnell, Chief Executive Officer +353 (1) 631 9022
Alexander David Securities Ltd - Corporate Finance Adviser
David Scott +44 (0) 20 7448 9820
James Dewhurst +44 (0) 20 7448 9820
Peter Almberg/Alex Benger +44 (0) 20 7653 1935
ADR Broker Desk, Deutsche Bank
Simon Davies and Richard Willis