US Oil and Gas

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  31/03/11

  U.S. Oil & Gas could be ready to drill first well in April

  Yesterday the Plus-listed junior oil firm unveiled the details of new funding arrangements, a mixture of debt and equity, which sets it up for its multi-well drilling campaign. We spoke to chief executive Brian McDonnell about rig availability, the new funding arrangements and plans to join the AIM market later this year.

   

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  30/03/11

  US Oil & Gas Plc: Funded to drill its 187 mln barrel project in Nevada

  The Plus-listed oil firm is now ready to push ahead with its ambitions drilling plans in Nevada, after it arranged access to over US$8 million in funding. That will be enough for the junior explorer to get a drill in the ground to test its 187 million barrels of oil-in-place. We spoke to chief executive Brian McDonnell about the discounted placing as well as the upcoming drill plans and a possible step-up to the AIM market.

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  15/10/10

  US Oil and Gas shares sky-rocket as it confirms five hydrocarbon reservoirs

  Shares jumped 75% in early trade after the company confirmed the presence of five hydrocarbon reservoirs at the Hot Creek Valley property in Nevada. Chief executive Brian McDonnell told Proactive Investors that the company is at a 'very advanced' stage of planning for the first well, which will test multiple targets.

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  30/09/10

  US Oil & Gas: The Small Company With Big Ambitions in Nevada

  We talk to Brian McDonnell about Nevada and the challenges of the complex geology there. And we discover why he is quietly confident about the prospects for the company's first drilling campaign in the Sevier fold and thrust belt.

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  11/08/10

  U.S. Oil & Gas: pure play on a high impact geological conundrum

  If the group strikes lucky in Nevada's Hot Creek Valley, which is a distinct possibility, it could transform its fortunes overnight and realise significant upside to the current share price.

• 30/01/12

  US Oil and Gas reach agreement in relation to PLUS suspension

• 09/12/11

  US Oil & Gas: Appointment of corporate advisor will "materially assist" resumption of trading

• 21/11/11

  US Oil and Gas appoints finance director and other new board members

• 20/10/11

  US Oil & Gas applies for permit to drill its first Nevada well

• 05/10/11

  Evergreen Energy receives $30m offer for purchase of K-Fuel business

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  22/11/2010

  US Oil and Gas One2One Investor Presentation - 22nd November 2010 (PDF)

  US Oil and Gas One2One Investor Presentation - 22nd November 2010
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  30/09/2010

  US Oil and Gas One2One Investor Presentation - 30th September 2010 (PDF)

  US Oil and Gas updates investors at the One2One Investor Forum on the 30th September 2010
• 

  17/06/2010

  US Oil and Gas One2One Investor Presentation 17th June 2010 (PDF)

  US Oil and Gas updates investors at the One2One Investor Presentation on 17th June 2010

Overview

The Background

Thrust belts and associated foreland basins provide a quarter of the earth's known oil reserves.

These are found where the western North American Cordillera coincides with organic-rich hydrocarbon source rocks, including the Mississippian Antler foreland basin of western Utah and central  Nevada.

Why Nevada?

As with thrust belts worldwide, some oil is trapped in giant thrust structures. Typically, oil seeps occur above the giant structures — except in Nevada where a blanket of Oligocene volcanic rocks and detritus buried and sealed the oil seeps.

Some of these concealed Nevada oil seeps, including the most prolific North American onshore flowing oil well found in ten years, are unconformity-related, commercial grade oil accumulations.

Geological studies indicate a lacustrine paleogeographical environment for the Great Basin, contrary to the accepted marine paleogeography for the region.

The most extensive proprietary study of source rock in the Great Basin to date reveals that the Mississippian Antler foreland basin is made up of  transgressive and regressive lacustrine sequences and Stigmaria root zones with rootlets penetrating bedding planes.  Palynomorph biostratigraphy from oil wells confirms that the regressive sequences are mostly organic-rich lacustrine shales or lakebeds.

These facts about a lacustrine origin for Great Basin source rock contrast sharply with the deeply entrenched marine theory of USGS geologists.

Such extremely complex geology means that  what you see at the surface does not necessarily reflect what exists 7,000 feet below.

Conventional 2D and 3D seismology has not been able to identify oil bearing forms.

However:

Antler Forland basin contains enough organics to generate  huge quantities of oil.

Geologists believe there are at least 30 geologic structures each containing in excess of 1 billion barrels of oil.

Identifying the anticlines becomes a real possibility with state-of-the-art seismology, three dimensional models, well information and high quality surface geologic maps.

Brian McDonnell – CEO 

Brian graduated from Dublin City University with a business studies degree and worked in manufacturing industry for a number of years before setting up and successfully running his own training company. Brian is now involved in a number of Plus-listed companies as director and advisor and also has experience in the oil and gas industry.

Chris Comerford - Director

Mr  Comerford graduated from University College Dublin with an Honours Degree in Agricultural Science. In 1991 he was elected by the council of the Irish Management Institute to be a Fellow for his exceptional contribution to the practice of management. He has been involved in business management for most of his working life and held various  positions  including being Chairman, Managing Directors and  Chief  Executive of a number of companies including Greencore plc, Geest Ltd and Budgetts UK in the UK, Ireland and Jersey. After his departure from Greencore plc, Mr Comerford performed consulting work for Fyffes and other companies and was appointed the Chief  Executive of Geest Ltd when Fyffes set up the 50:50 joint venture with Wibdeco, the  Windward  Islands banana company. Mr Comerford has recently run his own international management consultancy business.

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