SOURCE: US Energy Holdings, Inc.

August 22, 2006 09:00 ET

US Energy Holdings, Inc. Important Shareholders' Update

HOUSTON, TX -- (MARKET WIRE) -- August 22, 2006 -- CEO of US Energy Holdings, Inc. (OTCBB: USEH), Claude Eldridge, is proud to announce the groundbreaking news everybody has been seeking: "When will US Energy Holdings, Inc. start the exploration of its first well in Ozona, Texas?"

US Energy Holdings plans to commence drilling within the first week of November 2006. This well should be in full production in time to meet the 06-07 winter demand. Following the history of this field, this well should return great profits for US Energy Holdings and its shareholders.

Claude Eldridge, CEO, thanks the shareholders for standing behind this company while we have been building a solid foundation for making US Energy Holdings a name to be reckoned with in the energy sector.

This press release contains statements which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of US Energy Holdings, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Contact Information

  • Contact:
    Claude Eldridge
    CEO
    US Energy Holdings
    Office # 281-383-9825