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.

15 January, 2010 - US Oil and Gas plc - Holding(s) in Company

TIDMUSOP

15 January 2010

U.S. Oil and Gas plc("USOIL", the "Company" or the "Group")Holding(s) in Company

The Company today received notification that SVS Securities plc (“SVS”) disposed of 1,693,232 ordinary shares of €0.0001 each in the Company (“Ordinary Shares”) on 14 January 2010. Consequently, SVS now holds 69,929 Ordinary Shares with one voting right each and therefore ceases to have a substantial shareholding. SVS’ interest relates to a legal and beneficial holding.

THE DIRECTORS OF THE ISSUER ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT.

PLUS Corporate Adviser SVS Securities Plc 21 Wilson Street London EC2M 2SN 020 7638 5600 corporatefinance@svssecurities.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Broker SVS Securities Plc Ian Callaway / Alexander Mattey 020 7638 5600

U.S. Oil and Gas plc Brian McDonnell T/P: +353 (0) 87-2383419

Notes to Editors: U.S. Oil and Gas Plc is an independent oil and gas exploration group, which is quoted on PLUS-quoted in London. The Group holds exploration acreage in Nevada, USA.

For further information please refer to our website at: www.usoil.us and press room at: www.usoil.us/press-room