Del Mar 1/10/2010 10:00:00 PM
Subsidiary’s Show Growth for USOG
Strategic relationship being looked at
Del Mar, CA – USOG the growing oil and gas products, services and technology company, now has two wholly owned subsidiary’s. United Oil (United), the North Dakota based distributor of refined fuels and other oil based products is the most recent to come on board. The second, Turnbull Oil was acquired in May 2009 and the company will now look at a strategic relationship between the two acquisitions in 2010.
United’s management with 30 years of experience will stay on for a minimum of three years and will continue to build a solid customer base. Last year, United signed 156 new propane customers, 65 in the last quarter alone.
United, a North Dakota Company is also benefiting from increases in propane prices which have risen 90% since summer. The company should also benefit from additional prospecting and drilling that will arise from the Bakken Formation in North Dakota. The Bakken Formation is the largest discovery of oil sine Prudhoe Bay in Alaska.
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United States Oil & Gas Corp. (Other OTC: USOG), Pfizer Inc. (NYSE:PFE), Alcoa Inc. (NYSE:AA), Cheniere Energy Inc. (AMEX:LNG), Bank of Granite Corporation (NASDAQ:GRAN), BioFuel Energy Corp. (NASDAQ:BIOF), Ford Motor Company (NYSE:F)
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