U.S. OIL AND GAS PLC
LSE : USOP

February 24, 2012 12:00 ET

Acquisition of Additional Lease Acreage

24 February 2012

                                               U.S. Oil and Gas Plc.
                                                         
                                           ("U.S. Oil" or the "Company")

                                      Acquisition of Additional Lease Acreage


U.S. Oil and Gas plc (PLUS: USOP), the oil and gas exploration company with its main asset in Nevada, USA,
is pleased to announce it has acquired additional lease acreage in Hot Creek Valley. Through its wholly owned
subsidiary, Major Oil International LLC, U.S. Oil has leased two new lots, totaling 5,000 acres and contiguous with
existing acreage, from the Nevada Bureau of Land Management. The company's total acreage position in Hot Creek
Valley is now 15,738 acres (approx. 64 sq. km.).

U.S. Oil's intention in acquiring the new leases is to enhance the Company's Nevada asset, but it does not
foresee expending significant exploration effort in advance of the currently planned drilling programme.

U.S. Oil's CEO Brian McDonnell said, 'These acquisitions materially increase our exposure to the Hot Creek
Valley play and consolidate our position. We know that oil resources we have already located extend into part of
the newly leased area, and we believe the new acreage offers exciting exploration and drilling opportunities.'

THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT


                                                     ---ENDS--

For further information contact:

U.S. Oil & Gas plc
Brian McDonnell, Chief Executive Officer +353 (0) 872383419

Lionsgate Communications - Financial Public Relations
Natalia Egorova +44 (0)7500 828771
negorova@lionsgatecomms.com

Notes to Editors

U.S. Oil & Gas plc is a PLUS-quoted (Ticker: USOP) oil and gas exploration company with a strategy to identify  and
acquire oil and gas assets in the early phase of the upstream life-cycle and mature them. The Company's main  asset
is  in  Nye County, Nevada where it holds the entire share capital of US-based company Major Oil International  LLC
("Major  Oil").  Major  Oil has acquired rights to exploration and development acreage in  Hot  Creek  Valley,  Nye
County,  adjacent  to the oil and gas rich Railroad Valley area of Nevada, both of which are  part  of  the  Sevier
Thrust of central Nevada and western Utah, USA.

US  Oil  has  completed extensive surveys of its Hot Creek lease area, generating 18 datasets using  the  following
survey  methods:  Gravity  and  Magnetic Resonance, Geochemical, 2-D Seismic, Landsat remote  sensing,  Geophysical
studies, Conodont Alteration Index (CAI), Pyrolysis (TOC), Vitronite Reflectance-Visual Kerogen (TAI), 2-D  Passive
Seismic (IPDS) and 3-D Passive Seismic.

For further information please refer to our website at: www.usoil.us

U.S. OIL & GAS PLC

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