Proactive Investors - Run By Investors For Investors
Why invest in USOP?
US Oil and Gas: DEEP DIVE
OVERVIEW

US Oil & Gas waits for approval to move forward in Nevada

US Oil & Gas has submitted an application to frack the Eblana-3 well along with a hydrogeology report.
oil well
OVERVIEW: USOP The Big Picture
Waiting on approval to frack

 

  • US Oil & Gas plc (USOP) is waiting on permission to frack the Eblana-3 well in Nevada

  • Company not listed on a resgistered exchange and is working towards a new stock market listing

  • This will depend on producing oil at commercial quantities

  • The fracking operations will have an additional funding need, the company said previously.

 

What it is doing

US Oil & Gas has submitted an application to frack the Eblana-3 well along with a hydrogeology report.

Talks with the regulator and additional data collection are now ongoing.

“Every effort is being made by the company to satisfy requirements, but no timescale can be offered for the completion of the process,” the company said.

USOP reported a US$1.06mln loss for the twelve months ended 31 July.

In October, US Oil & Gas acquired more acreage in the Hot Creek Valley to increase its total to 73,725 acres at an annual lease cost of US$78,000.

 

Inflexion points

Firm indications that Hot Creek Valley lease area features a major oil system analogous to that in Railroad Valley

Targets for additional drilling to be identified and form new development proposal

Listing on registered exchange

 

 

View full USOP profile View Profile

US Oil and Gas Timeline

Related Articles

Statue is offset by European Union and Italian flags mounted on a building
May 10 2019
Selva onshore gasfield is a company focus and has 13.3 billion cubic feet of reserves.
Uranium
March 27 2019
The large scale uranium project has the potential to support a long life mining operation, with near surface, high-grade deposits for very low operating costs
oil rig
May 10 2019
The core of the portfolio is in the East Midlands Basin, which includes the Wressle-1 oil discovery,

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use