Big Picture – A Deep Dive Examination of US Oil and Gas
US Oil and Gas Snapshot
- After closure of GXG Markets, listing on a fully regulated exchange;
- Complete current drilling campaign in Hot Creek Valley, Nevada.
To maximise shareholder value by:
- Proving any discovery in terms of volume, flow rates and quality;
- Moving any discovery up the value chain to 'Proved Reserves';
- Drilling further wells;
- Continuing to collect high quality data to inform future development.
The Investment Case
- US Oil has confirmed the first discovery of light sweet crude oil in Nevada in approximately 30 years.
- The Eblana #1 exploration well, drilled by U.S. Oil's wholly owned subsidiary Major Oil International LLC, identified nine large potential porous oil reservoir intervals and associated high fracture zones before reaching its target depth of 8,550 feet on 26th May 2012. Testing confirmed two producer zones, approximately 150 feet cumulative net pay, and identified oil of 33 and 28.5 API.
- A May 2013 an independent Competent Person's Report by Forrest Garb & Associates estimates Net Prospective Resources of 282.8 million barrels of Oil-In-Place (P50) for the whole lease area and 19.23 million barrels of recoverable Contingent Resources from the area around the Eblana #1 well.
- Preliminary results from a large-scale reconnaissance Geochemical survey (completed January 2014) of the hitherto unsurveyed lease area indicate large potential hydrocarbon seepage anomalies and multiple faults and traps.
- US Oil & Gas has, compared to oil explorers with similar achievements, a low number of shares in issue.
- US Oil’s lease area is close to the highly productive oil field at Railroad Valley (10 miles) and is believed to be geologically comparable in exploration terms.
- 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.
- US OIL's discovery in the US, the world’s largest oil market, is situated in one of the most politically stable, well regulated and secure exploration areas in the world.
Brian McDonnell - Chief Executive Officer
Brian graduated from Dublin City University with a business studies degree and worked in manufacturing for a number of years before setting up and successfully running his own training company. Brian has extensive experience of bringing large and complex projects to fruition. He has been CEO of U.S. Oil & Gas since it was founded in 2009.
Peter Whelan - Audit/Remuneration/Contracts
Working in law enforcement, compliance and management in Ireland since 1982, Mr. Whelan has held various roles in the enforcement of, criminal, public health, environmental and sea fisheries law. Mr. Whelan has had responsibility for developing, managing, reviewing and renegotiation of service contracts across the public service.
Karim Akrawi - Exploration Director
Karim Akrawi is currently General Director for Geodynamics Worldwide, the company responsible for developing and implementing the Infrasonic Passive Differential Spectroscopy (IPDS or Passive Seismic) survey technology. He has presented and published numerous papers and reports on the application of IPDS and has made a significant contribution to the development of the technology as used today in oil exploration around the world.
Karim has vast experience of the oil and gas industry worldwide, including the United States. He was Senior Exploration Geologist with Abu Dhabi Company (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. His expertise includes formulating well proposals, planning and supervising drilling operations, carrying out geological and feasibility studies, preparing conceptual field development plans, evaluating the economics of well development, estimating probable oil and gas reserves, and risk analysis.
Brian McBeth - Independent Non-executive Director
Dr. McBeth trained as an economist and worked in the financial sector in the City of London between 1979 and 2008 specialising in oil companies. He is a former director and Head of Oils at Schroder Securities Ltd and Senior Oil Analyst at Cominvest, the asset management arm of Commerzbank AG. He has been a consultant to The Oxford Institute for Energy Studies, The Economist Intelligence Unit, and for IDEA/ The London School of Economics.
Company founder Jimmy Guiry
Sadly, Jimmy Guiry, co-founder and past chairman passed away on January 9, 2012.
It was Jimmy's vision that led the company to explore in Nevada, a vision that the company is now bringing to fruition.
Directors and Management Skills
Combined successful track record in:
- Acquiring natural resources projects;
- Constructing and operating gold & silver mines;
- Acquiring stock exchange listings for mining companies;
- Identifying and negotiating viable project acquisitions;
- Fundraising and deal structuring;
- Corporate Governance;
Shares in Issue & Significant Shareholders
Date: 20 April 2017
Number of Shares in Issue: 55,533,167 Ordinary Shares
Director’s Shareholding – Direct and indirect
Total % of Issued Shares
Brian McDonnell 3,913,234 7.04%
Peter Whelan 564,118 1.01%
Karim Akrawi 100,000 0.18%
The following persons and companies had an interest of 3% or more in the issued share capital
% of Issued Shares
JIM Nominees Limited 21.2%
Daveycrest Nominees Limited 13.7%
Aurum Nominees Limited 4.65%
Redmayne (Nominees) Ltd 4.34%
Brian McDonnell 7.04%
US OIL & GAS plc
Tel: +353 (0) 16629572
Tel M: +353 (0) 872383419
email: [email protected]
LHM Casey McGrath,
6 Northbrook Road,
Phone: +353 (0)1 495 9200
Fax: +353 (0)1 495 9299
E-Mail: [email protected]
2 Grand Canal Square,
Tel: +353 1 691 5000
Fax: +353 1 691 5010
Email [email protected]
Dx 18 Dublin
Alexander David Securities
Tel: 0207 448 9800
Fax: 020 3432 4453