SOURCE: IO News Wire

IO News Wire

May 20, 2010 04:00 ET

(OTC: USOG) Fully Integrates Newest Acquisition

Note to Editor: The Following Is an Investment Opinion Issued by the IO News Wire

NEW YORK, NY--(Marketwire - May 20, 2010) -  United States Oil and Gas Corp. (PINKSHEETS: USOG) announced yesterday that they have completed the audit of their newest acquisition, United Oil & Gas.

The American Recovery and Reinvestment Act of 2009 established a 30 percent tax credit for investments in improvements in residential energy efficiency. The credit applies to the purchase and installation of high efficiency residential appliances. This applies to propane as well, which is one of United States Oil and Gas main revenue streams. This credit should help propane gain a more solid market share going forward and open the doors to new clients.

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Other active stocks are LUX Energy Corp (OTCBB: LUXE), Cannon Exploration Inc (PINKSHEETS: CNEX) and Quest Software (NASDAQ: QSFT).

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