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US Oil & Gas chief hopes to start drilling in 'last quarter of year'

Brian McDonnell, chief executive of GXG-listed US Oil & Gas (GXG:USOP), has unveiled plans to start drilling the Hot Creek prospect in Nevada in the last quarter of this year.

That could be brought forward if sufficient progress is made in the appraisal work still to be carried out on the property.

McDonnell explains that the company now has a better understanding of the geology in Nevada and he also expands on the progress being made with potential funding partners.

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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