Del Mar, CA – United States Oil & Gas Corp (PINKSHEETS: USOG), a growing oil and gas products, services and technology company, today provided an update on one of its expanding subsidiaries, North Dakota-based United Oil, which became a wholly owned operating subsidiary at the start of the year.
Much like the Company's other wholly owned operating subsidiary Turnbull Oil (which is based in Kansas), the management team at United Oil has been immersed in the oil and gas industry for over thirty years. This longevity has enabled United Oil to develop and run a highly efficient distribution system. Customers span two states, and nine counties.
At United, no single customer accounts for greater than 5% of revenue. The breakdown of sales is: refined fuels (67%), propane (10%), racing fuel (4%), and other oil-based products (1%). Grocery and other convenience store items provide 18% of sales.
United Oil owns its own distribution system of tankers and haulers, and has incrementally added to its property, plant and equipment. Demand at present is such that additional storage is now necessary because customer sales are exceeding supply at a high rate. Storage capacity at its bulk plant is nearly 100,000 gallons of refined fuels with additional capacity available on six acres of developable land (which the company owns) located directly adjacent to the main interstate.
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United States Oil & Gas Corp. (Other OTC: USOG), Advanced Clean Technologies, Inc. (OTCBB:ACLH), Liberty Star Uranium & Metals Corp. (OTCBB:LBSR), Numobile, Inc. (OTCBB:NUBL), Green Innovations, Inc. (OTCBB:BGNN), RMD Entertainment Group (RMDM.PK)
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ACT Clean Technologies, Inc., formerly Advanced Clean Technologies, Inc., is a provider of restructuring strategies, turnaround execution and business development services for emerging and re-emerging public companies.
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