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Market: PLUS
Sector: Energy
EPIC: USOP
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US Oil and Gas
usoil.us

 

U.S. Oil & Gas plc was formed to exploit the potential for substantial oil and gas finds in one of North America's most prolific oil producing regions, using the most advanced technology available.

U.S. Oil & Gas plc’s (Ticker: USOP) core activities are in the USA, with exploration activity in Nevada where the company holds a large lease acreage and is fully funded to drill three wells.

 

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

21st Nov 2011, 9:16 am by Andre Lamberti Incoming finance director Andrew Harwood is currently a manager of the MFM CFS Balanced Opportunities Fund and managing director of CFS Independent Ltd

US Oil and Gas (PLUS:USOP) has appointed Andrew Harwood to the board as finance director and Karim Akrawi as exploration manager.

Harwood is an investment fund manager and financial planner since 1989, he has extensive experience in corporate investment in the oil and gas sector.

Harwood is currently a manager of the MFM CFS Balanced Opportunities Fund and managing director of CFS Independent Ltd.

He will be working together with chief executive Brian McDonnell on all financial matters.

The company’s incoming exploration manager Karim Akrawi is also a director of Canada-listed and Africa-focused Simba Energy (CVE:SMB).

Akrawi was senior exploration geologist with Abu Dhabi Co (ADCO) for onshore oil operations from 1980 to 2008, an enterprise currently producing 1.8 million barrels of oil per day. He has  also been involved in  major discoveries and field development in the United Arab Emirates  (UAE)  and  elsewhere  in  the Gulf exploration area.

Akrawi is currently general director for Geodynamics Worldwide, the company responsible for developing and implementing the Infra Passive Deferential Spectroscopy (IPDS or Passive Seismic) survey technology  worldwide.

US Oil and Gas has also appointed Peter Whelan to its board to head the Audit and Remuneration Committees.

Working in law enforcement, compliance and management since 1982, Whelan has held various roles in the enforcement of, criminal, public health, environmental and sea fisheries law.

He is currently chairman of the Sea Fisheries Protection Authority (SFPA).

US Oil and Gas is developing its main asset, the Hot Creek Valley prospect in Nevada.

In October, the company filed an application for a permit to drill its first well there.

Eblana No.1 will be the first of three wells, with drilling set to commence shortly after it receives the green light from the state’s Bureau of Land Management.

In September, the group said its 3D passive seismic had confirmed a “substantial hydrocarbon reservoir” at Hot Creek.

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