The Investment Case

• US Oil has confirmed the first discovery of light sweet crude oil in Nevada in approximately 30 years. 

• The Eblana #1 exploration  well,  drilled by U.S. Oil's wholly owned subsidiary Major Oil International LLC, identified  nine  large  potential porous oil reservoir intervals and  associated  high fracture  zones before reaching its target depth of 8,550 feet on 26th May 2012.  Testing confirmed two producer zones, approximately 150 feet cumulative net pay, and identified oil of 33 and 28.5 API.  
• A May 2013 an independent Competent Person's Report by Forrest Garb & Associates estimates Net  Prospective Resources of  282.8 million barrels of Oil-In-Place (P50) for the whole lease area and 19.23 million barrels of recoverable Contingent Resources from the area around the Eblana #1 well. 
• US Oil & Gas has, compared to oil explorers with similar achievements, a low number of shares in issue.
• The Company is fully funded to drill at least one further well.
• US Oil’s lease area is close to the highly productive oil field at Railroad Valley (10 miles) and is believed to be geologically comparable in exploration terms.
• The unit cost of extracting oil in Nevada  is amongst the lowest anywhere.  The Hot Creek Valley lease area is close to a highway and two refineries.   As a result, the viability of the field is minimally sensitive to the oil price.
• US OIL's discovery in the US, the world’s largest oil market,  is situated in one of the most politically stable, well regulated  and secure exploration areas in the world.

NOTE:  Resource figures are those estimated by Forrest A. Garb & Associates, May 2012.