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.

03 April, 2011 - US Oil and Gas - Share Transactions

TIDMUSOP

3 April 2011

U.S. Oil and Gas PLC

("USOIL" or "the Company")

 

Share Transactions

USOIL,  the  Oil and Gas exploration company with exploration assets in Nye County Nevada makes  the  following  announcement. 

1,000,000 ordinary shares of ?0.0001 each, with one right to vote each, in the Company ("Ordinary Shares") held by a former director Mr. Nial Ring have been gifted back to the Company at nil consideration. This is part of a  share  allocation  adjustment following an overgenerous allocation of shares to  him  prior  to  the  Company's flotation.  The 1,000,000 Ordinary Shares represent 2.66% of the issued ordinary share capital of the Company.

Following the events described above, Mr. Nial Ring has no notifiable interest in the Company.

--- ENDS ---

THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT

For further information contact:

U.S. Oil and Gas plc

Brian McDonnell, Chief Executive Officer+353 (0) 872383419

SVS Securities plc - PLUS Corporate Adviser

Peter Ward / Alexander Brearley+44 (0)20 7638 5600

SVS Securities plc - Broker

Ian Callaway / Alex Mattey+44 (0)20 7638 5600

 

 ian.callaway@svssecurities.com

 

 

Notes to Editors

USOil  and Gas plc is a PLUS (Ticker: USOP) listed 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 in to  marketable  opportunities  for the medium and large-sized oil companies. The Company's main asset is in Nye County,  Nevada where  it  holds the entire share capital of the US-based company Major Oil International LLC.  Major  Oil  has  acquired, and intends to acquire, rights to exploration and development acreage in two high potential  resource areas 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

 

U.S. OIL AND GAS PLC

(END) Dow Jones Newswires

May 03, 2011 11:45 ET (15:45 GMT)