The Investment Case

• A February 2012 Competent Person's Report by Forrest Garb & Associates estimates Gross Prospective Resources of 189 MMSTB OOIP (P50) and 67 MMSTB recoverable oil based on data from the Company's pre-December 2011 lease area.

• US OIL’s geological, geochemical and passive 2-D and 3-D seismic surveys show five precisely located hydrocarbon reservoirs, and the company has identified its first drilling targets.  

• US Oil & Gas has less than 42 million shares in issue.

• US Oil is fully funded to drill three wells.

• US Oil’s lease area is close to Railroad Valley (10 miles), which has produced over 50 million barrels.

• A drilling contract has been signed with Nabors Industries Inc.

• A Permit to Drill has been awarded by the relevant authorities (20 March, 2012).
• Earth mobilisation and site construction at the location of the Eblana #1 exploration well began on April 3rd 2012.

• Spudding-in took place on May 7th 2012.

• The company anticipates working with Forrest Garb & Associates as independent processes and data auditors throughout the forthcoming drilling campaign. Their role will also include devising and maintaining the Company's data store.

• The unit cost of extracting oil in Nevada  is amongst the lowest anywhere.  The Hot Creek Valley lease area is close to a highway and two refineries.   As a result, the viability of the field is minimally sensitive to the oil price.

• A discovery in the US, the world’s largest oil market,  would be situated in one of the most politically stable, well regulated  and secure exploration areas in the world. 

NOTE:  OOIP figures are those estimated by Forrest A. Garb & Associates, February 2012.
 
Progress to date