US Oil and Gas (PRIVATE-UK:USOP)

US Oil and Gas (PRIVATE-UK:USOP)


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US Oil and Gas

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 core activities are in the USA, with exploration activity in Nevada where the company holds a lease acreage of 88 sq km.

U.S. Oil & Gas is currently seeking listing...

EPIC: USOP
Market: PRIVATE-UK:USOP
Sector: Energy
Website: usoil.us
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Big Picture – A Deep Dive Examination of US Oil and Gas


US Oil and Gas Snapshot

Short-term Objectives

 

  • After closure of GXG Markets, listing on a fully regulated exchange;
  • Complete current drilling campaign in Hot Creek Valley, Nevada.


Medium-term Objectives

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.  
    RIP

 

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;
  • Contracts.

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%

Significant Shareholders
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

Alexandra House

Ballsbridge Park, 

Ballsbridge

Dublin 4

Co. Dublin 

Ireland

Tel: +353 (0) 16629572

Tel M: +353 (0) 872383419

email: [email protected]  

web:   www.usoil.us

Company Auditors

LHM Casey McGrath,

6 Northbrook Road, 

Dublin 6, 

Ireland

Phone: +353 (0)1 495 9200

Fax: +353 (0)1 495 9299

E-Mail: [email protected] 

 

Company Solicitor

Byrne Wallace 

2 Grand Canal Square,

Dublin, Ireland

Tel: +353 1 691 5000

Fax: +353 1 691 5010

Email [email protected] 

Dx 18 Dublin

 

Corporate Advisor

Alexander David Securities

45, Moorfields,

Moorgate,

London,

EC2Y 9AE.

Tel: 0207 448 9800

Fax: 020 3432 4453

[email protected]

US Oil and Gas Timeline

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