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.

27 July, 2011- US Oil and Gas plc - Placing

TIDMUSOP

27 July 2011

U.S. Oil and Gas PLC

("USOIL" or "the Company")

 

Placing 

The  Company is pleased to announce that it has today placed 3,856,555 new ordinary shares of EURO 0.0001  each (the "Placing Shares") at an issue price of 64 pence per share (the "Placing"). 

The  Placing has raised gross proceeds of approximately GBP2.47m. The Placing's proceeds are intended to be  used to  extend  the  Company's  well  drilling programme.  Based on the current analysis  of  available  data,  the Directors  now  intend to undertake a three well drilling programme, instead of the originally intended  single well drilling programme. 

The Directors expect to announce the start date and details of the well drilling programme shortly.

Director Shareholdings:

The  following  table  sets  out  details of changes in the percentage of  voting  rights  held  by  Directors, subsequent to the Placing.  =-------------------------------------------------------------------------------------------------------------- Name             Number  of ordinary   Number   of   ordinary   Percentage    of    the  Percentage   of   the                  shares  held  prior   shares held after  the   voting  rights  in  the  voting rights in  the                  to the Placing        Placing                  issued  ordinary  share  issued       ordinary                                                                 capital  of the Company  share capital of  the                                                                 prior  to  the           company after the                                                                 Placing (%)              Placing (%)  =-------------------------------------------------------------------------------------------------------------- James  T  Guiry  3,216,456             3,216,456                8.57%                    7.77% 1,2 =--------------------------------------------------------------------------------------------------------------  Brian         J  5,144,091             5,144,091                13.70%                   12.43% McDonnell 1,3,4 =--------------------------------------------------------------------------------------------------------------  Christopher   K  100,000               100,000                  0.27%                    0.24% Comerford =--------------------------------------------------------------------------------------------------------------    1.  Included  in  Brian  McDonnell and James T. Guiry's holdings are ordinary shares owned  by  Spurt  Concepts Limited, a company of which Brian McDonnell and James T. Guiry are shareholders and directors. 

2.  James  T.  Guiry's holding includes ordinary shares held by his wife, Margaret Guiry, via  both  joint  and several holdings. 

3.  Included in Brian McDonnell's holding is the holding of Carrefour Training and Development Ltd., a  company of which Brian McDonnell is a shareholder and director. 

4. Brian McDonnell's holding includes ordinary shares held by his father, Bernard McDonnell. 

The above interests relate to legal and beneficial holdings.   

Shares in Issue:

The  Placing  Shares  will rank pari passu in all respects with the existing fully paid ordinary  shares.   The Placing  Shares and the existing ordinary shares each have one right to vote per share. Following the  Placing, the Company will have 41,397,637 ordinary shares of ?0.0001 each in issue. 

The  above  figure  may  be used by shareholders as the denominator for the calculations  by  which  they  will determine if they are required to notify their interest in, or a change to, their interest in the Company.  The Company's total issued share capital is now EURO 4,139.76. 

Additionally, the Company holds 845,000 ordinary shares in its treasury, which represents 2.04% of the enlarged issued ordinary share capital of the Company. 

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 

U.S.  Oil  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

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