Welcome to your MyUSOil Website. This is an UNOFFICAL Website dedicated to U.S. Oil & Gas plc and its wholly owned subsidiary Major Oil International LLC, a website that hopes to bring together all aspects of the Company from a Factual Corporate view to the Private Investors.
The main purpose of this site is to bring together the Company and the PI under one roof. You will find Corporate Timelines, Share Price and Tracking Tools, Audio, Video and PowerPoint Presentations, Media Articles, Pictures, Research documents (on both Nevada and US Oil & Gas PLC), Private Investor Forums and listing of Brokers who can help with any requirements you may have with regards to Shares in the Company.
There is also a secure area where further documents and features are available.
U.S. Oil & Gas plc (traded on the GXG (MTF) Exchange) was formed to exploit the potential for substantial oil and gas finds in one of North America's most prolific oil producing regions, using the most advanced technology available.
U.S. Oil has collected 18 complimentary data sets from its acreage, including data from 3-D Passive Seismic (IPDS) surveying– the most advanced oil exploration technology of its kind.
Thrust belts and associated foreland basins provide a quarter of the earth's known oil reserves. These are found where the western North American Cordillera coincides with organic-rich hydrocarbon source rocks, including the Mississippian Antler foreland basin of western Utah and central Nevada.
As with thrust belts worldwide, some oil is trapped in giant thrust structures. Typically, oil seeps occur above the giant structures — except in Nevada where a blanket of Oligocene volcanic rocks and detritus buried and sealed the oil seeps.
Some of these concealed Nevada oil seeps, including the most prolific North American onshore flowing oil well found in ten years, are unconformity-related, commercial grade oil accumulations.
The most extensive proprietary study of source rock in the Great Basin to date reveals that the Mississippian Antler foreland basin is made up of transgressive and regressive lacustrine sequences and Stigmaria root zones with rootlets penetrating bedding planes. Palynomorph biostratigraphy from oil wells confirms that the regressive sequences are mostly organic-rich lacustrine shales or lakebeds.
Conventional 2D and 3D seismology has not been able to identify oil bearing forms; however, Antler Forland basin contains enough organics to generate huge quantities of oil.
Geologists believe there are at least 30 geologic structures each containing in excess of 1 billion barrels of oil.
Expanded Lease Area
On 24 February and 6th March, 2012, the Company announced it had acquired additional, continguous, lease acreage in Hot Creek Valley. Through its wholly owned subsidiary, Major Oil International LLC, the Company's total acreage position in Hot Creek Valley is now 22,221 acres (approx. 90 sq. km.).
Final analysis of the latest geochemical results for US Oil's pre-December 2011 lease area confirms five precisely defined hydrocarbon reservoirs, larger than previously reported, and some subsuming more than one previously reported anomaly. Two of the anomalies are analogous to trends found in the adjacent oil-producing Railroad Valley. Final anomaly sizes, extracted from the latest data, yield a current estimated size of up to 400 acres per anomaly, indicating that, on average, 30% of the lease area shows signs of hydrocarbon alteration.
Passive Seismic (IPDS) survey
A 3-D Infrasonic Passive Differential Spectroscopy (IPDS) survey was recently completed over the whole of the pre-December 2011 lease area. A report prepared by Geodynamics Research confirms a large hydrocarbon anomaly consistent with previously reported 2-D IPDS, geochemical survey results and other data sets. The anomaly covers more than 10 sq.km and shows consistently high Reservoir Hydrocarbon Indicator (RHI) readings. The hydrocarbon pool sits updip and is wholly contained within the lease area, while the source kitchen is underneath or just down-dip nearby. US Oil has identified up to ten drilling targets over the studied lease area.
Drilling - Eblana #1 well
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. This was the first discovery of light, sweet crude in Nevada in approximately 30 years.
Competent Person's Report
In February 2012 the Original Competent Person's Report by Forrest Garb & Associates estimates Gross Prospective Resources of 189 MMSTB OOIP (P50) and 67 MMSTB recoverable oil.
Since then On May 23, 20013, the Company announced the findings of a second independent Competent Person's Report prepared by Forrest Garb & Associates. Total Prospective Recoverable oil for full acreage (P50) = 57.2 million barrels. Contingent Recoverable oil for immediate area of Eblana #1 (P50) = 19.256 million barrels.
Results can be summarised as follows:
Hot Creek Valley, Tertiary Volcanics, Estimated Net Recoverable Resources (units = MBbl= 'thousands of barrels')
Eblana 1 Area
Contingent Recoverable Oil
20 sq Km Core Area
Prospective Recoverable Oil
Total Prospective 88 Sq KM
Prospective Recoverable Oil
In addition, on a 50% probability ('P50') for the Paleozoic Dolomites, FGA estimate the net recoverable prospective resources at 22 million barrels ('MMBbl').
Net Present Value is estimated at $588 million based on a 50 well project with 15 year cash flows discounted at 10%.
Note: Probabilistic aggregation of prospective resources in multiple areas, not arithmetic summation.
Note: Net figures reflect adjustment downwards for 12.5% government royalty.
The objective of the latest CPR was to update the resource categorization, hydrocarbon volume estimates and financial model, and to make recommendations for future exploration of the Hot Creek Valley concession incorporating the results from Eblana #1.