United States Oil & Gas Corp Provides Update on Subsidiary’s Distribution System and Rapidly Expanding Customer Base
AUSTIN, TX–(Marketwire – Feb 16, 2010) – United States Oil & Gas Corp (PINKSHEETS: USOG), a flourishing oil and gas products, services and record company, now supposing an refurbish on one of the expanding subsidiaries, North Dakota-based United Oil, that became a unconditionally owned handling auxiliary at the begin of the year.
Much identical to the Company’s alternative unconditionally owned handling auxiliary Turnbull Oil (which is formed in Kansas), the government group at United Oil has been enthralled in the oil and gas attention for over thirty years. This longevity has enabled United Oil to rise and run a rarely fit placement system. Customers camber dual states, and 9 counties.
United Oil owns the own placement complement of tankers and haulers, and has incrementally combined to the property, plant and equipment. Demand at benefaction is such that one more storage is right away required since patron sales have been surpassing supply at a tall rate. Storage genius at the bulk plant is scarcely 100,000 gallons of polished fuels with one more genius accessible on 6 acres of developable land (which the association owns) located without delay diagonally opposite to the main interstate.
At United, no singular patron accounts for larger than 5% of revenue. The relapse of sales is: polished fuels (67%), propane (10%), racing fuel (4%), and alternative oil-based products (1%). Grocery and alternative preference store equipment yield 18% of sales.
About United States Oil & Gas Corp (PINKSHEETS: USOG)
United States Oil & Gas Corp is focused on appropriation and flourishing done at home oil and gas services companies. We aim small to midst distance family-run businesses with historically essential results, clever shift sheets, tall distinction margins, and plain government teams in place. We done the initial acquisition, Turnbull Oil, in May 2009, and the second, United Oil & Gas, Inc., in Jan 2010. In further to the merger strategy, we intend to take and/or rise and muster exclusive technologies that will try or remove oil and gas trapped in the earth regulating the ultimate technologies that emanate the smallest ecological footprint as possible. Additional report can be found on the Company’s website, www.usaoilandgas.com.
This Press Release might enclose sure forward-looking statements inside of the definition of the Private Securities Litigation Reform Act of 1995. USOG has tried, at your convenience possible, to brand these forward-looking statements regulating difference such as “anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,” “potential” and identical expressions. These statements simulate USOG’s stream ideology and have been formed on report now accessible to it. Accordingly, such forward-looking statements engage well known and different risks, uncertainties and alternative factors that could means USOG’s tangible results, opening or achievements to talk about materially from those voiced in or pragmatic by such statements. USOG undertakes no requisite to refurbish or yield recommendation in the eventuality of any change, further or modification to the report catered in this Press Release together with such forward-looking statements.
