26 February, 2010 - US Oil and Gas plc - US OIL announces results of passive seismic survey in Hot Creek Valley
USOIL Announces Results of Passive Seismic Survey in Hot Creek Valley
USOIL ANNOUNCES RESULTS OF PASSIVE SEISMIC SURVEY IN HOT CREEK VALLEY
Dublin, Ireland, 26th February 2010
U.S. Oil and Gas Plc (Ticker: USOP) reports that Passive Seismic Survey results for an area of its Nevada lease show three high potential well-drilling targets.
The Infrasonic Passive Differential Spectroscopy Survey (IPDS) produced very high DHI (Direct Hydrocarbons Indicator) readings, indicating a significant accumulation of hydrocarbons. The survey was conducted over an area of approximately three square kilometers of the company’s 21 kilometer lease area.
- Surveys were conducted in two locations, Eblana Phase 1 North and East:
- The area of Phase 1 North shows extremely high hydrocarbon resonance energy values, at up to 0.96 DHI.
- The area of Phase 1 East also shows high hydrocarbon resonance energy values, at up to 0.59 DHI.
The IPDS survey results correlate highly with the gravity/magnetic survey and geochemical survey results already reported for these target areas.
CEO Brian McDonnell said: ‘IPDS is a powerful method ideally suited to the complexities of Nevada geology. Ours is the first ever IPDS survey carried out in Nevada, and the IPDS readings we are getting in Hot Creek Valley are comparable with some of the most valuable oil fields in the Middle East.’
Mr. McDonnell added, ‘We are now integrating the information from our IPDS survey with our other data sources to help validate the target hydrocarbon trap in terms of spatial consistency relative to size, shape and condition. We believe that such strong results and the richness of our data sources will significantly reduce risk as we choose targets for our exploratory wells.’
The Directors of U.S. OIL and Gas Plc accept responsibility for the contents of this statement.
Notes to Editors U.S. Oil and Gas Plc is an independent oil & gas exploration group quoted as USOIL on the London Plus Markets Group in London. The Group holds a lease area licence in Hot Creek Valley, Nevada, where exploration within the same geological feature has already demonstrated huge reserves - the Covenant field has yielded over a billion barrels – and where production infrastructure is already well developed.
About GeoDynamics GeoDynamics' Geospectra IPDS technology uses ultra-sensitive surface seismometers to identify distortions in ambient infrasonic tectonic noise spectrum associated with the presence of hydrocarbons. Typically, hydrocarbons are indicated by distortions within a bandwidth of around 3 - 4 Hertz. Results can identify hydrocarbon accumulations within a certain area, thus significantly reducing geological risk when combined with other data.
U.S. Oil and Gas plc is an Irish registered company No. 471932
For further information contact: U.S. OIL and Gas plc Brian McDonnell Chief Executive Officer Tel: +353-87-2383419 U.S. Oil and Gas plc 70 Ballybough Road Dublin 3
Plus Corporate Advisor and Broker SVS Securities plc 21 Wilson Street London EC2M 2SN Tel: +442076385600