SOURCE: IO News Wire

January 21, 2010 04:00 ET

(OTC: USOG) Acquisition Strategically Close to Bakken Formation

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO News Wire.

NEW YORK, NY--(Marketwire - January 21, 2010) - United States Oil & Gas Corp (PINKSHEETS: USOG) strategically acquired United Oil of North Dakota earlier this month putting the company in a position to benefit from the Bakken Formation which covers nearly 200,000 square miles.

Technically recoverable oil has been quoted as low as 2.1 billion barrels to a high of 503 billion barrels. The most recent report issued by the state of North Dakota states 167 billion barrels of oil.

The US Oil & Gas subsidiary based in Bottineau County, is situated in a perfect position to capitalize on the attention the Bakkan Formation is drawing. The increased activity to the area should provide a boost to the oil and gas business, convenience store usage, and the ability to incorporate drilling activities.

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Other active stocks are Cyclacel Pharmaceuticals (NASDAQ: CYCC), Lexican Pharmaceuticals (NASDAQ: LXRX) and GenVec Inc (NASDAQ: GNVC).

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