SOURCE: United States Oil and Gas Corp

United States Oil and Gas Corp

May 13, 2011 07:00 ET

United States Oil and Gas Corp Names David Lindemann as Chairman of Audit Committee

AUSTIN, TX--(Marketwire - May 13, 2011) - United States Oil and Gas Corp (OTCQB: USOG) (PINKSHEETS: USOG) is pleased to name Director David Lindemann as chairman of the Company's Audit Committee. The Committee is accountable to the board of directors to perform and report on its oversight responsibilities. These primarily deal with the integrity of the Company's financial statements and the Company's accounting and financial reporting process, its accounting policies and practices, and its system of internal control over financial reporting.

CEO Alex Tawse commented, "David is a great choice for Audit Committee Chairman. His accounting experience and business leadership brings additional value to our corporate structure and governance. He will play a key role in our continued efforts to improve the efficiency and accuracy of the reporting process."

From October 2009 to the present, Mr. Lindemann has been Director of Finance for Deverus, a private software company in Austin, Texas. Mr. Lindemann is a CPA who spent the first half of his career in public accounting beginning with Coopers & Lybrand, LLP in 1995. Mr. Lindemann graduated from the University of Texas in 1995, where he earned a Bachelor's in Business Administration and a Master's in Professional Public Accounting.

Additional information can be found on the "Investor Relations" page of the Company's website,

About USOG

United States Oil and Gas Corp (OTCQB: USOG) (PINKSHEETS: USOG) is an oil and gas products, services and technology company headquartered in Austin, Texas. Through our subsidiaries, we market and distribute refined oil and gas (diesel, gasoline, propane, high octane racing fuels and lubricants) to wholesale and retail customers in the United States. We own all of the plant storage, transportation and maintenance equipment used at our locations in Plainville, Utica, and Palco, Kansas. We own and operate a gas station and convenience store in Belcourt, and hold approximately six acres of developable land in Bottineau, North Dakota. We are focused on acquiring and growing domestic mid size family-run oil and gas services businesses with historically profitable results, strong balance sheets, high profit margins, and solid management teams in place. The company reported 2010 revenue of $24.7 million up from $9.4 million in 2009.

The Company has tried to identify any forward-looking statements contained in this press release using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information catered in this press release including such forward-looking statements. Refer to "Item 1A - Risk Factors" in our Form 10-K for the year ended December 31, 2010 filed with the Securities and Exchange Commission for a discussion regarding our exposure to risks. Additionally, new risk factors emerge from time to time and it is not possible for us to predict all such factors, nor to assess the impact such factors might have on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

Contact Information

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    James Crimi
    Investor Relations
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