Del Mar, CA – This year so far has been great for USOG here is a brief summary as to why:
January
Revenues at United States Oil & Gas Corporation's Wholly Owned Operating Subsidiary Total $4.5 Million During 4Q09
The company, released preliminary 4Q09 results for operations at its profitable Kansas-based subsidiary, Turnbull Oil.
For the quarter ended December 31, 2009, Turnbull Oil generated $4,400,000 in sales revenue and posted $278,000 in Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA).
February
Announces Addition to Board of Directors
David Lindemann, an independent certified public accountant (CPA) based in Austin, agreed to join its Board of Directors. This action has enhance the Company's overall corporate governance practices.
March
The company Extends Purchase Agreement With Kansas-Based Subsidiary; Sales Rise 29% to $1.5 Million
In March USOG announced the extension of the maturity of its promissory note due for the purchase of its profitable Kansas-based subsidiary, Turnbull Oil.
April
Receives U.S. Patent Office Approval for New Technology
USOG was pleased to announce that in April its patent application for its Simple Fiber Optic Seismometer for Harsh Environments has been approved by the U.S. Patent Office.
May
The Company Files Registration Statement on Form 10
USOG filed a registration statement on Form 10 with the United States Securities and Exchange Commission in order to register its common stock pursuant to the Securities Exchange Act of 1934, as amended.
Moving forward it’s clear that USOG is a smart investment move.
About United States Oil and Gas Corp (PINKSHEETS: USOG)
United States Oil and 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, in May 2009, and its second acquisition, United Oil & Gas, Inc., in January 2010. For more information please visit the Company's website at www.usaoilandgas.com
This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information catered in this press release including such forward-looking statements.
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Reports on Stocks to Watch:
United States Oil & Gas Corp. (Other OTC: USOG), Liberty Star Uranium & Metals Corp. (OTC:LBSR), Advanced Clean Technologies, Inc. (OTC:ACLH), AuGRID Global Holdings Corporation (OTC:AGHD), Americana Distribution Inc. (OTC:ADBN), Encounter Technologies Inc. (OTC:ENTI), MOP ENVIRONMENTAL SLTNS (PINK:MOPN)
Featured Stock:
United States Oil & Gas Corp.
(Other OTC: USOG)
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