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US Oil & Gas Corp.: United States Oil & Gas Announces Forward Split of Shares

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^{Published in Business and Finance on Thursday, September 3rd 2009 at 17:31 GMT by Market Wire}  

AUSTIN, TX--(Marketwire - September 2, 2009) - United States Oil & Gas Corporation (PINKSHEETS: [ USOG ]) announced that its Board approved a forward split of the company's common stock. Shareholders will receive 30 shares for each share. The execution date of the split was August 25, 2009.

Alex Tawse, CEO, commented, "We felt the split would enable us to more efficiently increase liquidity and allow shareholders greater access to our stock in order to take advantage of the positive developments occurring recently, namely the acquisition of Turnbull Oil."

About US Oil & Gas Corp.

United States Oil and Gas (USOG) is based in Austin, Texas, and focused on the domestic oil and gas services sector. The company was founded in May 2007, and is committed to innovative technologies that will both increase oil and gas extraction with the smallest ecological footprint and ensure the protection of the environment. The company is also actively engaged in a growth strategy through acquisition. It has a proprietary system of prospecting that is able to identify small to mid-sized oil and gas companies which are regional leaders, have strong profit history, and have experienced management that is willing to stay on board for a minimum of two years. This platform has successfully led to a signed agreement to purchase Kansas-based Turnbull Oil, in May 2009. Turnbull's 2008 audited financial statements reveal $16.5 million in revenues and $705,000 in EBITDA.

This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. USOG has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect USOG'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 USOG's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. USOG 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.