IO NewsWire

December 08, 2009 02:00 ET

(OTC: USOG) Reaches Agreement in Acquisition of United Oil & Gas

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

NEW YORK, NY--(Marketwire - December 8, 2009) - United States Oil & Gas Corp. (PINKSHEETS: USOG) announced yesterday that they have reached an agreement to purchase 100% of United Oil & Gas of North Dakota.

Oil and gas demand has been steadily increasing is expected to continue its trend well into 2010. With US Oil & Gas expecting to make one more profitable acquisition before the end of 2010, their foothold in the market should increase. The purchase of United Oil & Gas has put US Oil & Gas onto the retail side complementing its current supply side model. This should further boost revenue by opening up new income streams due to mark ups on fuel remaining constant regardless of price, 11% average on oil and diesel and upwards of 40% on propane.

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