SOURCE: US Oil & Gas Corp

US Oil & Gas Corp

August 17, 2010 10:35 ET

United States Oil and Gas Corp Exploring Increased Distribution of Custom Racing Fuels

AUSTIN, TX--(Marketwire - August 17, 2010) -  United States Oil and Gas Corp (PINKSHEETS: USOG), announced today that it intends to build on the success its subsidiary, United Oil, has achieved through the sales of custom-blended racing fuels and lubricants to local and statewide racing professionals and racing enthusiasts. The company is currently analyzing the expansion of sales to Kansas, where its other operating subsidiary, Turnbull is located.

United Oil, which was founded in 2003, sells and distributes refined oil and gas products throughout North Dakota as well as regions of South Dakota and Montana. To drivers of hot rods and dragsters, United is well known in the area for its commitment to the sport. In addition, customers have come to depend on United's reliable service. United sells custom methanol alcohol and Renegade 110 and 114 racing fuels as well as custom oil grades for high performance racing teams. Unlike standard racing fuels, the fuels and lubricants United sells are custom blended to achieve the high performance requirements of alcohol and higher octane racing engines.

Chairman and CEO Alex Tawse commented, "We are excited about the circumstances in which we may expand our sales of racing fuels and lubricants to Kansas, and believe we are well positioned to do so through Turnbull. From its acclaimed 1.5-mile Kansas Speedway, to the dozens of dirt tracks, paved ovals and drag strips across the state, Kansas presents a compelling opportunity."

About Us

United States Oil and Gas Corp is focused on acquiring and growing domestic oil and gas services companies. We target small to mid size family-run businesses with historically profitable results, strong balance sheets, high profit margins, and solid management teams in place. Our subsidiary Turnbull, which had revenues of $14 million in 2009, was founded in 1965. We own all of the facilities and equipment used at locations in Plainville, Utica, and Palco, Kansas. We own and operate a convenience store in Belcourt, and hold approximately six acres of developable land located in Bottineau, North Dakota. For more information please visit our website at

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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