SOURCE: IO News Wire

IO News Wire

January 20, 2010 04:00 ET

(OTC: USOG) Posts Strong Fourth Quarter Revenue

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

NEW YORK, NY--(Marketwire - January 20, 2010) - United States Oil & Gas (PINKSHEETS: USOG) announced today the preliminary revenue results for its wholly owned subsidiary Turnbull Oil exceeded $4.4 million.

US Oil & Gas has successfully completed two acquisitions in the past year, both of which have increased overall operating revenue and expanded their national presence.

Increased interest in natural gas has led to $33 billion in shale acquisitions by major oil companies last year, not including Exxon Mobil Corp.'s $41 billion acquisition of XTO Energy. This increased activity should increase overall revenue for US Oil & Gas as natural gas prices continue to rise.

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