U.S. Oil & Gas plc was formed to exploit the potential for substantial oil and gas finds in one of North America's most prolific oil producing regions, using the most advanced technology available.
U.S. Oil & Gas plc’s (Ticker: USOP) core activities are in the USA, with exploration activity in Nevada where the company holds a large lease acreage and is fully funded to drill three wells.
US Oil & Gas unveils board changes
US Oil & Gas (GXG:USOP) has announced it has appointed Paul O’Callaghan to the board as director-finance with immediate effect.
O’Callaghan, a chartered accountant by trade, was previously company secretary of James Crean and more recently financial director and chief executive of insurance firm FBD Holdings.
The company, which has exploration assets in Nye County, Nevada, also revealed that non-executive director Andrew Harwood will go the other way, stepping down with immediate effect to focus on his other commitments.
“U.S. Oil and its board warmly acknowledge the contribution of Mr Harwood to the Company's progress to date, and we wish him the very best for success in the future,” said chairman Brian McDonnell.
The oil and gas explorer recently raised US$1.8 million through a placing to boost its working capital position.
It is planning production testing of the Eblana No.1 discovery well.
In June, the firm said the number and size of the reservoir zones it had encountered at the well was “beyond expectations”.