SOURCE: IO News Wire

IO News Wire

December 16, 2009 23:59 ET

(OTC: USOG) Expanding Its Core Business Through Acquisition

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

NEW YORK, NY--(Marketwire - December 16, 2009) - United States Oil & Gas Corp (PINKSHEETS: USOG) announced yesterday that they are in the final stages of fully acquiring United Oil and Gas of North Dakota.

Consolidation, most recently with Exxon Mobil buying XTO Energy, is the best form of growth in the oil and gas industry as per a recent presentation given by Simmons & Company International, an investment bank in the energy industry.

US Oil & Gas is set to acquire a fleet of tanker trucks, developable land, equipment and a business with a seasoned management team that will be staying on for a minimum of 3 years.

United Oil and Gas of North Dakota has recently signed on 150 new propane customers. With propane averaging a 40% retail mark-up, revenues should increase from the development of new customers.

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