It was announced yesterday by USOG, that they had closed its acquisition of United Oil ("United"), a profitable North Dakota-based distributor of refined fuels and other oil-based products.
During 2010, the Company will explore available efficiencies from the combined operations with Turnbull. CEO, Alex Tawse commented, "One of our competitive strengths is that our management possesses a unique experience and skill set with improvement of operational efficiencies. We will utilize that strength to lower costs and increase profit."
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About United States Oil & Gas Corp. (USOG.PK)
United States Oil & Gas Corp. is focused on acquiring and growing domestic oil and gas services companies. The company targets small to mid size family-run businesses with historically profitable results, strong balance sheets, high profit margins, and solid management teams in place. The company made its first acquisition, Turnbull Oil, on May 15, 2009. In addition to its acquisition strategy, the company intends is to acquire and/or develop and deploy proprietary technologies that will explore or extract oil and gas trapped in the earth using the latest technologies that create the smallest ecological footprint as possible. The company has two patents pending that support this ancillary strategy but does not rely on revenue generation from this technology in its financial projections.
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