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U.S. Oil & Gas plc - Notice of AGM

·4-min read

March 15, 2021

U.S. Oil & Gas Plc.

(“US Oil” or the “Company”)

Notice of AGM

U.S. Oil & Gas Plc, (“USOIL” or the “Company”), the oil and gas exploration company with assets in Nevada, makes the following announcement:

The Company’s Annual General Meeting (“AGM”) will be held on 8 April, 2021 at 11.00 a.m. at Alexandra House, the Sweepstakes, Ballsbridge Park, Ballsbridge, Dublin 4, D04 C7H2, Ireland.

Due to the current COVID-19 crisis, U.S. Oil and Gas plc has put in place new arrangements to protect the wellbeing of its people and its shareholders. The proceedings will therefore be conducted via teleconference from the company’s headquarters, Alexandra House, the Sweepstakes, Ballsbridge Park, Ballsbridge, Dublin 4, D04 C7H2. Full details are outlined below.

Notice of the AGM, a form of proxy and the Annual Report and Accounts (see also www.usoilandgas.us) for the period ended 31 July 2020 (the “Documents”) were posted to shareholders on 15 March 2021, including information on how to use the electronic voting facility.

AGENDA

Ordinary Business

  1. To receive and consider the financial statements for the year ended 31 July 2020 and the reports of the Directors and Auditors thereon

  2. Re-election of Peter Paul Whelan as a Director

  3. To re appoint Smith & Williamson Chartered Accountants as Auditors

Special Business

4. Authorisation to allot equity securities otherwise than in accordance with statutory pre-emption rights

Proxy voting

We strongly advise our shareholders to submit their proxy forms by post or electronically to ensure their vote counts at the AGM given that no personal attendance at the AGM is permissible under current government regulations.

Conference call details

Please find below the conference call details:
Republic of Ireland: +353 (1) 4897200
Conference ID: 195354#

Copies of the Documents will be available for inspection for one month from today’s date, free of charge, from the Company’s registered office at: Alexandra House, The Sweepstakes, Ballsbridge, Dublin 4, Republic of Ireland.

FORWARD-LOOKING STATEMENTS
The statements in this communication reflect the current thinking of the Board and the Company’s present plans. The Company reserves the right to alter plans in the light of developing knowledge and circumstances. Shareholders’ attention is drawn to the note below concerning Forward-looking Statements.

This press release contains certain “forward-looking statements” and “forward-looking information”. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to: business plans and strategies of US Oil and Gas; operating or technical difficulties in connection with drilling or development activities; availability and costs associated with inputs and labour; drilling and exploration costs; the speculative nature of oil exploration and development; diminishing quantities or quality of reserves; synergies and financial impact of completed acquisitions; the benefits of the acquisitions and the development potential of properties of US Oil and Gas; the future price of oil; supply and demand for oil; the estimation of reserves; the realization of reserve estimates; costs of production and projections of costs; success of exploration activities; capital expenditure programs and the timing and method of financing thereof; the ability of US Oil and Gas to achieve drilling success consistent with management’s expectations; net present values of future net revenues from reserves; expected levels of royalty rates, operating costs, general and administrative costs, costs of services and other costs and expenses; expectations regarding the ability to raise capital and to add to reserves through acquisitions, assessments of the value of acquisitions and exploration and development programs; geological, technical, drilling and processing problems; treatment under governmental regulatory regimes and tax laws.

All statements other than statements of historical fact are forward-looking statements

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

Neither this announcement nor the information contained herein constitutes an offer or solicitation by U.S. Oil and Gas Plc for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful.

For further information contact:

Brian McDonnell, Chief Executive Officer +353 (1) 631 9022

About U.S. Oil & Gas:

U.S. Oil & Gas plc is an 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. The Company’s
main asset is in Nye County, Nevada where it holds the entire share capital of US-based company, Major Oil International LLC (“Major Oil”). Major Oil has acquired rights to exploration and development acreage 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.usoilandgas.us