U.S. Oil and Gas Plc
USOPY
Other OTC3.95
USD
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U.S. Oil and Gas Plc
USOPY
(Other OTC)
Recent
price
3.95
P/E
ratio
- -
div
yld
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ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- U.S. Oil and Gas Plc explores for and develops oil and gas properties onshore in Nevada, USA, through its wholly owned subsidiary Major Oil International LLC; the company holds federal lease acreage totaling 52,046 acres in Hot Creek Valley, targeting conventional oil and gas plays in the Chainman Shale source rock analogous to the neighboring Railroad Valley fields, which have produced over 40 million barrels of oil; principal activities encompass geophysical and geochemical surveys, seismic data analysis including reprocessed 2-D lines and VSP data, prospect appraisal, and well drilling such as the non-commercial Eblana-1, Eblana-3, and Eblana-9 wells that flowed high-quality oil (API 28.5-34.5) to surface. Headquartered in Dublin, Ireland, with the subsidiary registered in Houston, Texas, the company was incorporated on June 15, 2009, as a public limited company under Irish law and maintains its primary operational focus in the United States. Latest developments include ongoing advanced-stage funding discussions to support further drilling in the West Play, modeled after the prolific Grant Canyon field, alongside a review of downhole data from Eblana-9 and basin modeling refinements; certain leases face operational suspension from a legal challenge by an environmental group against 2018 federal auctions in Nevada, though lease awards remain intact pending appeals with no impact on identified East and West Play opportunities; prior independent estimates by Baker Hughes reported a best contingent recoverable oil resource of 206.6 million barrels (20% recovery factor).