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US Oil & Gas says CPR report marks 'significant milestone'

US Oil & Gas tells Proactive Investors that the company's competent person's report on its Hot Creek Valley property in Nevada marks a 'significant milestone' in terms of the progress of the company. "We have a discovery of oil. We have moved nearly 20mln barrels of oil into contingent resources. So we've moved [the project] up the value chain." The company needs to collect more information on the discovery so it can determine where to go from here.

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US Oil & Gas CEO: We’re moving as fast as we can

Brian McDonnell, chief executive of GXG-listed US Oil & Gas (GXG:USOP), says the company has looked at various funding options in Nevada. McDonnell says while he is optimistic about a deal, the company is reliant on potential farminees to make a move. He urges shareholders to be patient...

on 09/19/2014

2 min read