23 July 2015 - U.S. Oil & Gas Plc.- GXG Markets and CISE
U.S. Oil & Gas Plc.
("U.S. Oil" or the "Company")
GXG Markets and CISE
U.S. Oil & Gas Plc (GXG London: USOP, OTC New York: USOPY), the oil and gas
exploration company with assets in Nevada, makes the following announcement:
In a press release dated Wednesday 22nd July 2015 11:00 CEST, the Board of GXG Markets announced that GXG Markets is to be sold to The Channel Islands Securities Exchange Limited (CISE) and that current listings on the GXG
Official List, GXG Main Quote and GXG First Quote that meet CISEA's listings
and disclosure rules will have the opportunity for seamless migration to CISE
by 18th August 2015.
The Board of US Oil & Gas plc welcomes the proposed development as potentially offering the Company's shareholders the opportunity to continue trading in US OIL & Gas securities with minimal disruption. The Company expects that GXG Markets and/or CISE will communicate further details in due course, and the Board of US Oil & Gas will then be able to take an informed view on the implications for the Company and shareholders of the proposed arrangements.
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
Tel: +44 (0) 20 7547-6500
Fax: +44 (0) 20 7547-9995
Tel: +1 212 250-9100
Fax: +1 732 544-6346
About American Depositary Receipts (ADRs)
An ADR is a negotiable certificate that represents ownership in securities of a non U.S. company. ADRs are issued by a sponsoring U.S. bank and denominated in U.S. dollars. An ADR represents a specified number of shares (or one share) in
a foreign stock that is traded on a U.S. exchange.
ADRs allow foreign companies shares to be traded in a similar manner to shares in U.S. companies on the New York Stock Exchange (NYSE), the American Stock Exchange (AMEX), NASDAQ and the over-the-counter (OTC) market. ADRs enable U.S.
citizens to acquire shares in a foreign company without the need for cross border or cross currency transactions. Any dividends and capital gains are in U.S. dollars.
About U.S. Oil & Gas
U.S. Oil & Gas plc, (GXG London: USOP, OTC New York: USOPY), is an 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