United States Oil & Gas Corp. Target Acquisition Expected to Add $8 Million in Sales

AUSTIN, TX, Oct 05 (MARKET WIRE) --
United States Oil & Gas Corporation (PINKSHEETS: USOG) today provided
additional details of its planned second acquisition. 2009 sales are
expected to be $8.0 million, up from 2008 audited financial results of
$7.0 million. Early this year, USOG signed a letter of intent to purchase
the private North Dakota-based regional provider of oil and gas products
including propane, diesel, and gasoline. The target company owns a bulk
storage plant, a fleet of tanker trucks, and a retail outlet. Management,
which is contracted to remain with the business for a minimum of three
years, has over 30 years experience in the industry.

The purchase, expected to close by year-end, includes all property,
equipment and six acres of developable land located on the main highway.
Alex Tawse, CEO of USOG, commented, "We have looked at numerous situations
to grow our business and increase shareholder value and we feel that this
acquisition provides the next piece of the puzzle." In addition to assets
with a fair market value of $0.5 million, the target company has a long
record of growth and financial stability and would provide increased
geographic diversity for USOG.

About USOG

United States Oil & Gas is focused on the domestic oil and gas services
sector. The company was founded in May 2007, and is committed to
innovative technologies that will both increase oil and gas extraction
with the smallest ecological footprint and ensure the protection of the
environment. The company is also actively engaged in a growth strategy
through acquisition. It has a proprietary system of prospecting that is
able to identify small to mid-sized oil and gas companies which are
regional leaders, have strong profit history, and have experienced
management that is willing to stay on board for a minimum of two years.
This platform has successfully led to the purchase of Kansas-based
Turnbull Oil, in May 2009.

This Press Release may contain certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. USOG
has tried, whenever possible, to identify these forward-looking statements
using words such as "anticipates," "believes," "estimates," "expects,"
"plans," "intends," "potential" and similar expressions. These statements
reflect USOG's current beliefs and are based upon information currently
available to it. Accordingly, such forward looking statements involve
known and unknown risks, uncertainties and other factors which could
cause USOG's actual results, performance or achievements to differ
materially from those expressed in or implied by such statements. USOG
undertakes no obligation to update or provide advice in the event of any
change, addition or alteration to the information catered in this Press
Release including such forward-looking statements.

Investor Relations:
+1-512-464-1255
Email Contact

United States Oil & Gas Corp.
11782 Jollyville Road, Suite 211B
Austin, Texas 78759, USA
www.usaoilandgas.com

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