U.S. OIL AND GAS PLC
LSE : USOP

August 15, 2011 09:47 ET

SHARE TRANSFERS - REPLACEMENT

15 August 2011


                                             U.S. Oil and Gas PLC
                                                       
                                          ("USOIL" or "the Company")
                                                       
                                         Share Transfers - Replacement
                                                       

The following amendment has been made to the "Share Transfers" announcement released on 12 August 2011.

"GeoDynamics Research S.r.l" has been replaced with "Geodynamics Worldwide Srl" in the second paragraph of  the
announcement.

All other details remain unchanged. The full amended text is shown below.


12 August 2011

                                             U.S. Oil and Gas PLC
                                                       
                                          ("USOIL" or "the Company")
                                                       
                                                Share Transfers
                                                       
                                                       
U.S. Oil and Gas plc (PLUS: USOP), the oil and gas exploration company with exploration assets in Nye County,
Nevada makes the following announcement.

Further to the announcement made on 25 May 2011, Geodynamics Worldwide Srl ("Geodynamics") has taken, under the
terms  of  their agreement, 98,923 ordinary shares in the capital of the Company in lieu of payment in relation
to  part  of  the  seismic surveying work undertaken on the Company's current project.  The  figure  of  98,923
ordinary  shares  was  agreed  on  11 July 2011.  The aforementioned 98,923 ordinary  shares  have  today  been
transferred to Geodynamics from the Company's treasury.

Following  the  aforementioned transfer, the Company now holds 746,077 ordinary shares in its  treasury,  which
represents 1.80% of the issued ordinary share capital of the Company.

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


                                                 --- ENDS ---
                                                       

For further information contact:

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

SVS Securities plc - PLUS Corporate Adviser
Peter Ward / Alexander Brearley +44 (0)20 7638 5600

SVS Securities plc - Broker
Ian Callaway / Alex Mattey +44 (0)20 7638 5600
ian.callaway@svssecurities.com

Notes to Editors

US  Oil and Gas plc is a PLUS (Ticker: USOP) listed 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 in to  marketable
opportunities  for the medium and large-sized oil companies. The Company's main asset is in Nye County,  Nevada
where  it  holds the entire share capital of the US-based company Major Oil International LLC.  Major  Oil  has
acquired, and intends to acquire, rights to exploration and development acreage in two high potential  resource
areas 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.

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

U.S. OIL AND GAS PLC

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