SOURCE: US Oil & Gas Corp

US Oil & Gas Corp

October 06, 2010 08:30 ET

United States Oil and Gas Corp Now Trading on OTCQB

AUSTIN, TX--(Marketwire - October 6, 2010) - United States Oil and Gas Corp (OTCQB: USOG) is pleased to announce that as a result of its registration statement with the SEC becoming effective and remaining current in its required filings, its common shares are now trading on the OTC market for U.S. registered companies. The Company's ticker symbol, USOG, remains the same.

OTCQB includes only registered and reporting companies with the SEC or a U.S. banking regulator and is the next tier above the Pink Sheets where the Company's common stock was previously quoted. Market makers enter quotations electronically on this platform. Approximately 4,000 companies are currently listed on the OTCQB. The Company plans to build on its successful progression to the OTCQB and will continue working towards moving its stock to larger public markets such as the premier OTCQX and NASDAQ exchange.

About USOG

United States Oil and Gas Corp is focused on acquiring and growing domestic oil and gas services companies. We target mid size family-run businesses with historically profitable results, strong balance sheets, high profit margins, and solid management teams in place. Our subsidiary, Turnbull, which had revenues of $14 million in 2009, was founded in 1965. We own all of the facilities and equipment used at our locations in Plainville, Utica, and Palco, Kansas. Our subsidiary, United, was founded in 2003, and sells and distributes refined oil and gas products including specialty racing fuels throughout North Dakota as well as regions of South Dakota and Montana. We own and operate a convenience store in Belcourt, and hold approximately six acres of developable land located in Bottineau, North Dakota.

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 registration on Form 10 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

  • Contact:
    James Crimi
    Investor Relations
    Email Contact