SOURCE: US Energy Holdings, Inc.

June 12, 2006 11:45 ET

Important Stock Holder Update

HOUSTON, TX -- (MARKET WIRE) -- June 12, 2006 -- CEO, Claude Eldridge, is proud to announce, US Energy Holdings (OTCBB: USEH) has just started negotiations to purchase 50% of a Natural Gas line in Crockett County, Texas. This is to be used to gather and transport natural gas to the main El Paso line. The purpose behind purchasing such a gas line is the fact that it should cut down overhead on gathering and transporting our gas and also show a positive revenue on future gas contracts for transporting for other energy-based companies in its area.

CEO, Claude Eldridge, states, "This is just another step of our aggressive plan for the rapid growth of US Energy Holdings, Inc."

This should combine with the purchase of Taylor Exploration to cut drilling expenses over 30%, gathering and transportation of natural gas by 50%, and also produce a rapid growth of capital within the company.

CEO, Claude Eldridge, explains, "Adding these two key acquisitions to our company we will not be held back on production or transportation as other companies are by waiting on the availability of drilling rigs and accessibility to transporting their product."

As another note, many shareholders have been wondering the amount of outstanding in issued shares in this company, at this current time that number is around 5 and a half million shares. If you have any questions, please feel free to contact the company.

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of US Energy Holdings, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Contact Information

  • Contact:
    Claude Eldridge
    US Energy Holdings
    office # 281-383-9825