US Oil & Gas (USOPY): Initiation of Due Diligence report U....

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Wednesday, 03/18/2015 9:10:52 AM

Wednesday, March 18, 2015 9:10:52 AM

Initiation of Due Diligence report

U.S. Oil & Gas plc (USOP)

Wednesday, 18th March 2015 09:44 CET

As part of an on-going investigation that the GXG Regulatory Team undertakes in relation to U.S. Oil & Gas plc (USOP), a decision was earlier made to request a due diligence report from U.S. Oil & Gas plc (USOP). This report needs to be produced by an independent due diligence firm. GXG hereby announces that a due diligence provider has started to prepare a due diligence report. The report will take up to six weeks to produce, and is expected to be ready by the end of April 2015.

No decision has yet been made regarding a potential lifting of the suspension of the trading, or a potential disciplinary action. The due diligence report serves as a material part within the investigation and the GXG Regulatory Team therefore awaits the results of the report to then conclude its findings.

GXG Regulatory Team