UERLF: Inactive Security. FINRA deleted symbol.

https://otce.finra.org/otce/dailyList?viewType=Deletions

Any ideas as to why UERLF woke up today.

CALGARY, ALBERTA February 17, 2017 – US Oil Sands Inc. ("US Oil Sands" or the "Company") (TSXV: USO), an innovator of oil extraction technologies, announces that it has reached agreement with various service providers to reinitiate work on the PR Spring Project (the "Project") through the deferral of payments and/or the issuance of shares on outstanding accounts.

“We are pleased that the Company continues to have the support of the contractors who have diligently contributed to the construction and commissioning of the Project,” said Cameron Todd, CEO of US Oil Sands. “As the Company continues to carefully manage its most recent capital infusion, the ability to defer or settle its accounts payable liabilities through the issuance of shares provides the Company with additional operational and financial flexibility. We can now look forward to completing commissioning procedures, beginning operations, and achieving our goal of making first-oil early in 2017 and profitably demonstrating the Company’s commercial technology.”

SHARES FOR DEBT AGREEMENTS

The Company has entered into agreements with four of its service-provider creditors to issue 793,857 common shares in the capital of the Company (“Common Shares”) at a deemed price of C$1.15 per Common Share in settlement of an aggregate of C$912,934 in debt.

The issuance of the Common Shares to creditors as described herein is subject to acceptance of the TSX Venture Exchange.

The Company anticipates entering into further agreements with service-provider creditors.

PR SPRING PROJECT UPDATE

The Project commissioning recommenced in early February as employees and contractors were brought back to site in a staged basis allowing for a coordinated and safe return-to-operations.

The Company expects to complete commissioning and initiate start-up operations over the next 8 – 10 weeks. Following successful initial operations, the Company anticipates ramping up to capacity.

US Oil Sands Inc. Closes US$7.5 Million Financing, Announces Changes to its Board of Directors and Provides PR Spring Project Update

CALGARY, ALBERTA January 12, 2017 – US Oil Sands Inc. ("US Oil Sands" or the "Company") (TSXV: USO), an innovator of oil extraction technologies, announced today that it has closed the Company’s previously announced US$7.5 million financing (the "Financing") with ACMO S.à R.L. ("ACMO"), the Company’s largest shareholder, allowing re-engagement of its employees and necessary contractors to complete and operate the PR Spring Project (the "Project").

“This was an important and necessary financing for the Company,” said Cameron Todd, CEO of US Oil Sands, “allowing us to preserve the future of Company, the jobs of our U.S. and Canadian employees and address the overdue accounts of suppliers who have patiently stood back and allowed us to complete the Financing. Unfortunately, this did not come without significant sacrifice from our many longstanding shareholders. This capital will allow the Company to take the Project into operation early in 2017. We do believe we obtained the best possible deal for all our stakeholders. We now can re-engage our employees and contractors to complete commissioning procedures, begin operations, and achieve our goal of making first oil early into 2017 and profitably demonstrating the Company’s commercial technology.”


SENIOR SECURED LOAN FACILITY

The US$7.5 million senior secured loan facility carries a 15% annual interest rate, is repayable after one year and is extendible for an additional 12 months if, by the end of the initial 12-month term, the Company has produced an average of 1,500 barrels per day for 30 consecutive days at a cost of less than US$45.00 per barrel, inclusive of all operating, transportation and marketing costs, together with corporate G&A; essentially a cash-basis corporate cost.

Security is a first priority interest on all present and future property, assets of the Company and its wholly owned subsidiary, US Oil Sands (Utah) Inc. A provision allows the Company to market and obtain a US$3.0 million loan facility (the "AR Facility") using accounts receivable and inventory as security, where ACMO will postpone its security in favour of a first place position. The Company will immediately look to secure such AR Facility in order to add additional working capital resources to the balance sheet.

As an inducement to provide the Financing, ACMO was granted, on a post-consolidation basis, 24,000,000 warrants that are exercisable at $0.75 for a term of five years.


BOARD OF DIRECTORS

The Financing provides for ACMO to increase its board representation to three members and allows the Company to appoint a further three, thereby reducing the board form its current eight members to six members.

ACMO nominees will include current board members Stephen Lehner and Mark Brown, as well as the addition of Harry F. Quarls to the board. Mr. Quarls currently sits as an observer to the board.

Mr. Quarls currently serves as a Managing Director at Global Infrastructure Partners, a $40 billion infrastructure private equity fund with an emphasis on North American midstream energy. Mr. Quarls was recently appointed Chairman of the Board for Penn Virginia Corporation upon emergence from restructuring. Additionally, he currently serves as the Chairman of the Board of Woodbine Holdings LLC, as well as a member of the Board of Managers of Opal Resources LLC, all of which are private equity backed exploration and production companies. Mr. Quarls spent 27 years at Booz & Co. where he served as the Managing Director and Practice Leader for Global Energy. He held various worldwide leadership roles during his tenure including serving on the Executive, Compensation, Personnel, and Finance Committees. Previously, Mr. Quarls was the Chairman of Trident Resources Corp. Mr. Quarls holds an MBA from Stanford University in addition to ScM and B.S. degrees, both in Chemical Engineering, from the Massachusetts Institute of Technology and Tulane University, respectively.

The Company and the board thank Messrs. Johnson, Pantin and Todd for their dedicated service to the board of directors. Mr. Todd is and will remain the Company’s Chief Executive Officer.


PR SPRING PROJECT UPDATE

The Project commissioning will resume in January as employees and contractors are brought back to site in a staged basis to allow for coordinated and safe return-to-operations.

The Company expects to complete commissioning and move into commercial operations in Q1 2017. A slower measured start-up will be implemented to reduce the impact of starting up the facility in the coldest winter months.


OUTLOOK

The Company will now be able to turn its focus on final commissioning procedures and start-up of commercial operations of Phase 1 of the Project in Q1 2017.

Demonstrating the commercial viability of the Company’s patented and unique technology is expected to open the opportunities for future developments in other oil sands areas outside of Utah, in addition to capacity expansion on the Company’s Utah production.

The Company continues to evaluate specific markets and transportation for sales of crude oil and other petroleum products.

Management will continue to investigate and pursue business development opportunities for the Company’s technology, including opportunities to work with Athabasca oil sands developers to demonstrate the technology’s favourable extraction outcomes. The Company will broaden its working relationships with leaseholders and government agencies supporting development of Canadian oil sands.

US Oil Sands Inc. Proceeding with Share Consolidation



CALGARY, ALBERTA December 30, 2016 – US Oil Sands Inc. ("US Oil Sands" or the "Company") (TSXV: USO), an innovator of oil extraction technologies, announces that the Company is proceeding with the previously announced share consolidation on the basis of one post-consolidation common share for every 50 pre-consolidation common shares (the "Consolidation") and the outstanding common shares will commence trading on a consolidated basis at the opening of trading on Tuesday, January 3, 2017 on the TSX Venture Exchange under the Company’s existing trading symbol "USO". The shareholders approved the Consolidation at the annual and special meeting of shareholders held on May 18, 2016.

No fractional shares will be issued pursuant to the Consolidation and fractional entitlements will be rounded down to the next lowest whole number of post-consolidated common shares. Registered shareholders will be required to exchange their existing share certificates or DRS advice representing pre-consolidated common shares for post-consolidated common shares, by submitting their old certificates or information respecting the applicable DRS advice, together with a completed and signed Letter of Transmittal, to the Company 's transfer agent, Computershare Trust Company of Canada. Letters of Transmittal will be sent directly to registered shareholders and may also be obtained from Computershare Trust Company of Canada, P.O. Box 7021, 31 Adelaide Street E, Toronto, ON M5C 3H2 Attention: Corporate Actions (Tel: 1-800-564-6253) or downloaded from SEDAR atwww.sedar.com.

http://us10.campaign-archive2.com/?u=e561a64bfb0b7b4abe43bcb90&id=909b149cdf&e=a51af56006

UERLF one for 50 reverse split:

http://otce.finra.org/DLSymbolNameChanges

Why do you say that? Just curious.

Wonder who came up with the plan to offer shareholders a special incentive to buy up the remaining authorized and then reverse split the stock. And shareholders approved it?
Might be smarter to wait for the price to drop after the split and then buy shares.

Knew this was going to happen years ago.

1 for 100 Reverse Split approved!!

In addition to the normal business of the Meeting, shareholders will be asked to consider for approval two special resolutions.

First, a special resolution authorizing a consolidation of the issued and outstanding common shares on the basis of one (1) post-consolidation common share for up to every one hundred (100) pre-consolidation common shares. Following the Company’s April 2011 going-public transaction, subsequent equity financings, and taking into consideration the maximum number of common shares to be issued pursuant to the Rights Offering, warrants and other dilutive securities related to the Company’s long-term incentive plans, the Company will have 1.94 billion common shares outstanding which is considered to be an unsuitable capital structure for the Company. A consolidation of 100 to 1 would result in a post-consolidation amount of 19.4 million common shares.

Second, the Company is requesting its shareholders to approve a change in the name of the Company. The name “US Oil Sands Inc.” was chosen in 2011, after the acquisition of Earth Energy Resources Inc., to reflect the Company’s focus on developing oil sands properties in the State of Utah. Since that time, the Company has decided to expand its focus from solely Utah to other potential development areas, such as the Athabasca region of Alberta and other international opportunities.

Management and the Company’s board of directors believe that a name change is important to better reflect the focus and strategy of the Company on maximizing its use of innovative technologies in the energy industry and expanding to new geographic locations. At the Meeting, shareholders will be asked to pass a resolution authorizing the board of directors to change the Company's name from "US Oil Sands Inc." to such name deemed appropriate by the board of directors, at its sole discretion, and as may be acceptable to the TSX Venture Exchange and pursuant to the requirements of the Business Corporations Act (Alberta). It is the intention that the Company’s U.S. subsidiary will continue to operate as US Oil Sands (Utah) Inc.

STANDBY COMMITMENT

In connection with the Rights Offering, US Oil Sands has entered into a standby purchase agreement (the "Standby Purchase Agreement") with the Company’s largest shareholder, ACMO S.à.r.l. (the "Standby Purchaser"), pursuant to which the Standby Purchaser has agreed to purchase (the "Standby Commitment") all of the common shares that are not otherwise purchased by holders of the rights under the Rights Offering, subject to a maximum of US$7.5 million (including the aggregate exercise price of any rights exercised by the Standby Purchaser as a shareholder of US Oil Sands).

In consideration for providing the Standby Commitment, the Standby Purchaser will receive warrants entitling the Standby Purchaser to acquire common shares equal to 25% of the maximum number of common shares that the Standby Purchaser has agreed to acquire pursuant to the Standby Purchase Agreement, exercisable within six months after the closing of the Rights Offering and having an exercise price equivalent to the Rights Offering subscription price of C$0.015 or US$0.012 per common share.

A condition of the completion of the Standby Commitment is that US Oil Sands enters into a governance agreement which would entitle the Standby Purchaser to a third board representative if the Standby Purchaser owns at least 35% of the issued and outstanding common shares after giving effect to the Rights Offering and Standby Commitment. The Standby Purchaser currently owns 26% of the outstanding common shares and is entitled to two board representatives pursuant to an existing nomination rights agreement. Furthermore, during the 24-month period following the closing, US Oil Sands would agree not to issue any equity securities in excess of 10% of the issued and outstanding common shares in any 12 month period without the prior written consent of the Standby Purchaser.

The Rights Offering will be conducted in Canada only. However, certain approved eligible holders of common shares in jurisdictions outside of Canada may be able to participate in the Rights Offering. If you are a holder of common shares and reside outside of Canada please see the rights offering notice and rights offering circular to determine your eligibility and the process and timing requirements to receive and, or, exercise your rights. The Company requests any U.S. shareholder or other ineligible holder interested in exercising their rights to contact the Company at their earliest convenience but before May 17, 2016, after which Computershare will, prior to the Expiry Time, attempt to sell unexercised rights for the benefit of ineligible holders.

Funds raised through the Rights Offering will be used to complete Phase 1 of the PR Spring Project (the "Project") and are targeted to demonstrate the commercial effectiveness of the Company’s patented bitumen extraction technology. With a successful financing, the Company expects completion of construction and start-up of operations in Q4 2016. The Company continues to extensively test and optimize its patented technology at its Grande Prairie, Alberta research and development facility. This facility is now undertaking additional testing to validate the use of the Company’s technology for potential development of oil sands in the Athabasca region of Alberta and in other parts of the world.

The Company will be offering rights to holders of its common shares at the close of business on the record date of April 25, 2016, on the basis of one right for each common share held. Each right will entitle the holder to subscribe for one common share of US Oil Sands upon payment of the subscription price of C$0.015 or US$0.012 per common share. There are currently 853,142,395 common shares of the Company outstanding. If all of the rights issued under the rights offering are validly exercised, the Rights Offering will raise gross proceeds of approximately C$12.8 million.

US OIL SANDS INC. ANNOUNCES EQUITY RIGHTS OFFERING, FILING OF RESOURCE EVALUATION REPORT AND 2015 YEAR END RESULTS, ANNUAL GENERAL AND SPECIAL MEETING AND PR SPRING PROJECT UPDATE
CALGARY, ALBERTA April 18, 2016 – US Oil Sands Inc. ("US Oil Sands" or the "Company") (TSXV: USO), an innovator of oil extraction technologies, announces that it plans to proceed with an equity rights offering for gross proceeds of up to C$12.8 million (the "Rights Offering").

The Company is also pleased to report that it has received and filed its independent evaluation of bitumen contingent resources as of December 31, 2015 in compliance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities. For the first time in the Company’s history, a portion of the Company’s resources have been upgraded to a Contingent Resource classification and assigned a risked value (NPV10 best estimate) of C$87.4 million on recovery of 9.6 MMbbls on the Company’s 316 acre permitted PR Spring development area. The remaining 5,614 acres of PR Spring lands remain un-appraised with resources classified as Discovered Petroleum (Bitumen) Initially-In-Place totalling 171.8 MMbbls. The Company intends to further appraise and consider development of these additional resources over the next several years.

US Oil Sands also announces that it filed its audited consolidated financial statements ("Financial Report") for the twelve month period ended December 31, 2015 along with the management discussion and analysis of the financial results of US Oil Sands for such period.

A copy of the aforementioned documents are available on the System for Electronic Document Analysis and Retrieval website at www.sedar.com as well as US Oil Sands’ website at www.usoilsandsinc.com.

“Our company is at a pivotal point in its history,” said Cameron Todd, CEO of US Oil Sands. “With a successful financing we expect to complete our first project at PR Spring and produce first oil before year end. Our recent resource report demonstrates strong value for this project and tremendous potential for additional development. In today’s challenging environment, US Oil Sands expects to emerge as an industry leader among the most efficient, lowest capital cost and most environmentally sustainable oil sands companies.”

Mr. Todd continued, “I believe a rights offering, versus all other forms of financing, is the most equitable to our shareholders. We are giving the Company’s current shareholders, who have been supportive and loyal to the Company, the opportunity to participate in this financing. Along with the entire management team, I personally intend to fully participate in this offering, as we all firmly believe in the Company’s future.”

RESOURCE EVALUATION REPORT

The Company engaged Calgary-based McDaniel & Associates Consultants Ltd. ("McDaniel") to complete an independent resource evaluation report dated December 31, 2015 (the "McDaniel Report") in compliance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities.

For the first time in the Company’s history, a portion of the Company’s resources have been upgraded to a Contingent Resource classification and assigned a risked value (NPV10 best estimate) of C$87.4 million on recovery of 9.6 MMbbls (from Discovered Petroleum (Bitumen) Initially-In-Place of 12.5 MMbbls) on the Company’s 316 acre permitted PR Spring development area. It should be noted that these resources are not classified as reserves but as Contingent Resources based on technology under development, and are subject to certain risks and contingencies including project execution and commercial demonstration of the Company’s technology. The remaining 5,614 acres of PR Spring land remain un-appraised with resources classified as Discovered Petroleum (Bitumen) Initially-In-Place totalling 171.8 MMbbls. In preparing the McDaniel Report, McDaniel audited and confirmed the Company’s entire 184.3 MMbbls of Discovered Petroleum (Bitumen) Initially-In-Place attributed to the PR Spring property as previously evaluated by Sproule Unconventional Limited with an effective date of December 31, 2014.

US Oil Sands’ PR Spring property lies within the State of Utah’s PR Spring Special Tar Sand Area and consists of three leases that encompass 5,930 acres. The Company also holds leases on an additional 26,075 acres that have only been minimally explored and therefore, not evaluated in the McDaniel Report. US Oil Sands currently holds 100% working interest in its Utah-based assets.

McDaniel's resource assessment of the evaluated areas is listed below:

Summary of Contingent Resources and Net Present Value
Effective December 31, 2015
CONTINGENT RESOURCES – BITUMEN PRICING, NATURAL GAS AS FUEL

Summary of Risked and Un-risked Volumes

Classification and Product Bitumen Production (Mbbl)
Risked (@ 90%) Un-Risked
Gross1 Net2 Gross1 Net2
Low Estimate Contingent Resources - Bitumen 9,108 8,504 10,120 9,449
Best Estimate Contingent Resources - Bitumen 9,644 8,958 10,715 9,953
High Estimate Contingent Resources - Bitumen 10,180 9,412 11,311 10,458
NOTES:
1.Gross resources are the working interest resources and deductions of royalties payable to others.
2.Net resources include gross resources after royalty payable to others plus royalty interest based on McDaniel & Associates January 1, 2016 forecast bitumen netback prices. McDaniel’s oil and gas price forecasts can be found at http://www.mcdan.com/priceforecast.
Summary of Risked (@ 90%)/Un-risked Net Present Values before Income Taxes1,2,3

Classification and Product Risk NPV (C$MM)
0% 5% 8% 10% 12% 15% 20% 25%
Low Estimate Contingent Resources - Bitumen Risked 86 46 30 22 15 7 (3) (9)
Unrisked 95 51 34 25 17 8 (3) (10)
Best Estimate Contingent Resources - Bitumen Risked 214 135 104 87 74 58 38 25
Unrisked 237 150 115 97 82 64 43 28
High Estimate Contingent Resources - Bitumen Risked 343 220 174 149 129 104 76 57
Unrisked 381 245 193 166 143 116 85 63
NOTES:
1. Based on McDaniel & Associates January 1, 2016 forecast bitumen netback prices. McDaniel’s oil and gas price forecasts can be found at http://www.mcdan.com/priceforecast.
2. Interest expenses and corporate overhead, etc. were not included.
3. The net present values may not necessarily represent the fair market value of the resources.
RIGHTS OFFERING

The Company will be offering rights to holders of its common shares at the close of business on the record date of April 25, 2016, on the basis of one right for each common share held. Each right will entitle the holder to subscribe for one common share of US Oil Sands upon payment of the subscription price of C$0.015 or US$0.012 per common share. There are currently 853,142,395 common shares of the Company outstanding. If all of the rights issued under the rights offering are validly exercised, the Rights Offering will raise gross proceeds of approximately C$12.8 million.

The rights will trade on the TSX Venture Exchange under the symbol USO.RT commencing on April 21, 2016 and until 10:00 a.m. (Calgary Time) on May 27, 2016. The rights will expire at 4:00 p.m. (Calgary time) on May 27, 2016 (the "Expiry Time"), after which time unexercised rights will be void and of no value. Shareholders who fully exercise their rights will be entitled to subscribe for additional common shares, if available as a result of unexercised rights prior to the Expiry Time, subject to certain limitations set out in the Company’s rights offering circular. The Company expects to close the Rights Offering on or about May 31, 2016.

Details of the Rights Offering will be set out in the rights offering notice and rights offering circular which will be available under US Oil Sands’ profile at www.sedar.com. The rights offering notice and accompanying rights certificate will be mailed to each registered eligible shareholder as at the record date. Registered shareholders who wish to exercise their rights must forward the completed rights certificate, together with the applicable funds, to the subscription agent, Computershare Investor Services Inc. ("Computershare"), on or before the Expiry Time. Shareholders who own their common shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions from their intermediary.

The Rights Offering will be conducted in Canada only. However, certain approved eligible holders of common shares in jurisdictions outside of Canada may be able to participate in the Rights Offering. If you are a holder of common shares and reside outside of Canada please see the rights offering notice and rights offering circular to determine your eligibility and the process and timing requirements to receive and, or, exercise your rights. The Company requests any U.S. shareholder or other ineligible holder interested in exercising their rights to contact the Company at their earliest convenience but before May 17, 2016, after which Computershare will, prior to the Expiry Time, attempt to sell unexercised rights for the benefit of ineligible holders.

Funds raised through the Rights Offering will be used to complete Phase 1 of the PR Spring Project (the "Project") and are targeted to demonstrate the commercial effectiveness of the Company’s patented bitumen extraction technology. With a successful financing, the Company expects completion of construction and start-up of operations in Q4 2016. The Company continues to extensively test and optimize its patented technology at its Grande Prairie, Alberta research and development facility. This facility is now undertaking additional testing to validate the use of the Company’s technology for potential development of oil sands in the Athabasca region of Alberta and in other parts of the world.

The Company believes that its value proposition derived from having competitive operating costs, much lower capital costs and significantly improved environmental outcomes is all the more applicable today to an industry that is enduring commodity price pressure, capital market constraints and social license limitations.

In order to allow all shareholders to understand the status of the Company and its value proposition, the Company will be hosting a conference call and webcast on April 20, 2016 at 9:00 a.m. (Calgary Time) with the following details:

Local/toll-free (Canada/U.S.):
International dial-in numbers:
Webcast link: 416-340-2216 / 866-223-7781
https://www.confsolutions.ca/ILT?oss=1P29R8662237781
http://www.gowebcasting.com/7509
An instant replay of the conference call will be available until 11:59 p.m. (Calgary Time) on May 20, 2016 and may be accessed by the following:

Local/toll-free (Canada/U.S.):
International dial-in numbers:
Passcode: 905-694-9451 / 800-408-3053
https://www.confsolutions.ca/ILT?oss=4P29R8004083053
7297512
Additionally, management will conduct a series of information meetings at locations and times to be posted on the Company’s website at www.usoilsandsinc.com. Shareholders are encouraged to attend the webcast or any of these meetings. If any shareholder is interested in speaking to or meeting with the management of US Oil Sands, they are encouraged to contact the Company at their earliest convenience to coordinate suitable arrangements.

STANDBY COMMITMENT

In connection with the Rights Offering, US Oil Sands has entered into a standby purchase agreement (the "Standby Purchase Agreement") with the Company’s largest shareholder, ACMO S.à.r.l. (the "Standby Purchaser"), pursuant to which the Standby Purchaser has agreed to purchase (the "Standby Commitment") all of the common shares that are not otherwise purchased by holders of the rights under the Rights Offering, subject to a maximum of US$7.5 million (including the aggregate exercise price of any rights exercised by the Standby Purchaser as a shareholder of US Oil Sands).

In consideration for providing the Standby Commitment, the Standby Purchaser will receive warrants entitling the Standby Purchaser to acquire common shares equal to 25% of the maximum number of common shares that the Standby Purchaser has agreed to acquire pursuant to the Standby Purchase Agreement, exercisable within six months after the closing of the Rights Offering and having an exercise price equivalent to the Rights Offering subscription price of C$0.015 or US$0.012 per common share.

A condition of the completion of the Standby Commitment is that US Oil Sands enters into a governance agreement which would entitle the Standby Purchaser to a third board representative if the Standby Purchaser owns at least 35% of the issued and outstanding common shares after giving effect to the Rights Offering and Standby Commitment. The Standby Purchaser currently owns 26% of the outstanding common shares and is entitled to two board representatives pursuant to an existing nomination rights agreement. Furthermore, during the 24-month period following the closing, US Oil Sands would agree not to issue any equity securities in excess of 10% of the issued and outstanding common shares in any 12 month period without the prior written consent of the Standby Purchaser.

PR SPRING PROJECT UPDATE

The Company’s Lead Technical Director has completed a detailed review of the Project. The review confirms construction of the Project is now approximately 90% complete with costs coming in under the US$60 million original budget. As announced on February 4, 2016, the Company initiated a reduction in the pace of field construction in order to preserve working capital. Remaining costs to complete the Project are estimated at US$5.6 million (C$7.2 million) while working capital at March 31, 2016 was approximately US$2.1 million (C$2.8 million). To fund this shortfall along with future costs to optimize operations along with on-going corporate costs, the Company intends to use the proceeds from the Rights Offering.

Upon completion of the Rights Offering, the Company intends to resume full construction activities which consist primarily of on-site piping, instrumentation and electrical installation. Concurrent to and following mechanical completion, commissioning procedures will begin, followed by start-up, expected in Q4 2016.

2015 YEAR-END RESULTS

The Company commenced field construction at the Project site in May 2015 and maintained full site activity through the end of 2015. All aspects of the Project have now been calibrated towards mechanical completion and start-up in Q4 2016. Piping, electrical and instrumentation installation, pipe and tank insulation, and other site construction activities continued to progress through December 31, 2015.

Some of the achievements in 2015 include:

Received at site for erection and installation all of the key pieces of process equipment that were fabricated off-site including the paddle dryer, disk stack centrifuge, rotating mixer, hot oil system, turbine generators, wiped film evaporator, modular electrical house, office and control room buildings, bulk storage tanks and the heat recovery steam generator;
Completed all civil work including foundations and pilings, trenching and underground utilities, water supply pipeline and main gas tie-in from a commercial supply pipeline;
Made substantial progress on the field fabrication of piping, and electrical, instrumentation, and controls installation;
Recruited and assembled key PR Spring operations team staff including the plant foremen, mine engineer, mine operations geologist, lead operators, plant operators, HSE personnel and administrative staff.
Issued a report to a Province of Alberta agency supporting technology development in the Canadian oil sands concerning the Company’s testing program using oil sands supplied from the Athabasca region of Alberta; and
Received a favourable ruling from the Utah Division of Oil, Gas and Mining regarding a challenge to the Company’s large Mine Permit whereby the Company applied to optimize the mining sequence at PR Spring which reduced the size of the storage areas required for overburden and clean processed and dewatered tailings.
SUMMARY OF SELECTED 2015 FINANCIAL RESULTS

The following financial data was selected from the Company’s Financial Report which has been prepared using the accounting policies under IFRS as issued by the International Accounting Standards Board.

Year Ended December 31, in C$ 2015 2014
Total assets 110,548,184 98,084,333
Cash used in operations (6,990,217) (5,890,390)
Net income (loss) 168,171 (4,913,417)
Total comprehensive income (loss) 8,666,221 (3,592,249)
Loss per share – basic and diluted 0.00 (0.01)

As at December 31, 2015, the Company had cash and cash equivalents of C$18,529,111, net working capital of C$14,048,857 and commitments for capital expenditures of US$446,055, all related to the Project.

For the fourth quarter of 2015, the Company had a net loss of C$1,153,096 compared to C$236,456 for the same period in 2014. The increased loss is attributable to the higher staff count in 2015, associated with the construction of and anticipation of operating the Project.

ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS

The Annual General and Special Meeting (the "Meeting") of the shareholders of US Oil Sands will be held at the Calgary Petroleum Club, 319 – 5th Avenue SW, Calgary, Alberta on Wednesday, May 18, 2016 at 3:30 p.m. (Calgary Time). The Company will mail the management information circular, form of proxy and notice on or before April 21, 2016.

In addition to the normal business of the Meeting, shareholders will be asked to consider for approval two special resolutions.

First, a special resolution authorizing a consolidation of the issued and outstanding common shares on the basis of one (1) post-consolidation common share for up to every one hundred (100) pre-consolidation common shares. Following the Company’s April 2011 going-public transaction, subsequent equity financings, and taking into consideration the maximum number of common shares to be issued pursuant to the Rights Offering, warrants and other dilutive securities related to the Company’s long-term incentive plans, the Company will have 1.94 billion common shares outstanding which is considered to be an unsuitable capital structure for the Company. A consolidation of 100 to 1 would result in a post-consolidation amount of 19.4 million common shares.

Second, the Company is requesting its shareholders to approve a change in the name of the Company. The name “US Oil Sands Inc.” was chosen in 2011, after the acquisition of Earth Energy Resources Inc., to reflect the Company’s focus on developing oil sands properties in the State of Utah. Since that time, the Company has decided to expand its focus from solely Utah to other potential development areas, such as the Athabasca region of Alberta and other international opportunities.

Management and the Company’s board of directors believe that a name change is important to better reflect the focus and strategy of the Company on maximizing its use of innovative technologies in the energy industry and expanding to new geographic locations. At the Meeting, shareholders will be asked to pass a resolution authorizing the board of directors to change the Company's name from "US Oil Sands Inc." to such name deemed appropriate by the board of directors, at its sole discretion, and as may be acceptable to the TSX Venture Exchange and pursuant to the requirements of the Business Corporations Act (Alberta). It is the intention that the Company’s U.S. subsidiary will continue to operate as US Oil Sands (Utah) Inc.

A copy of the aforementioned documents will be available for viewing on the System for Electronic Document Analysis and Retrieval website at www.sedar.com.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available

ABOUT US OIL SANDS INC.

US Oil Sands is engaged in the exploration and development of oil sands properties and, through its wholly owned United States subsidiary US Oil Sands (Utah) Inc., has a 100% interest in bitumen leases covering 32,005 acres of land in Utah’s Uinta Basin. The Company plans to develop its oil sands properties using its proprietary extraction process which uses a bio-solvent to extract bitumen from oil sands without the need for tailings ponds. The Company is in the pre-production stage, anticipating the commencement of bitumen production and sales once it has arranged suitable financing.

The foregoing contains forward-looking information relating to the future performance of the Companyincluding information relating to the development and construction of the Project, commencement of commercial production, construction activities and costs, sustaining capital requirements, resource estimates, the completion of the Rights Offering, the amount of proceeds from the Rights Offering and the use of such proceeds, the proposed name change and consolidation, corporate development activities and international opportunities. Forward looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Such risks and other factors include, among others, the actual results of exploration activities, changes in world commodity markets or equity markets, the risks of the petroleum industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes, change in government and changes to regulations affecting the oil and gas industry, and other risks and uncertainties detailed from time to time in the Company's filings with Canadian securities regulatory authorities (available at www.SEDAR.com). Forward-looking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein. The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

Contingent Resources are those quantities of bitumen estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingencies may include such factors as economic, legal, environmental, political and regulatory matters or a lack of markets. There is no certainty that it will be commercially viable to produce any portion of the contingent resources disclosed in this release and the estimated values of future net revenue disclosed herein do not necessarily represent the fair market value of such contingent resources.

Discovered bitumen resources or discovered bitumen initially-in-place is that quantity of bitumen that is estimated, as of a given date, to be contained in known accumulations prior to production. The recoverable portion of discovered bitumen initially-in-place includes production, reserves and contingent resources; the remainder is unrecoverable. There is no certainty that it will be commercially viable to produce any portion of the discovered bitumen resources disclosed herein.

Additional information relating to resource estimates is contained in the Company’s Statement of Resources Data and Other Oil and Gas Information for the year ended December 31, 2015 dated April 6, 2016 and available on SEDAR at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For additional information please contact:

US Oil Sands Inc.
Cameron Todd, CEO or Glen Snarr, President & CFO
Suite 1600, 521 – 3rd Avenue SW
Calgary, Alberta T2P 3T3
Tel: +1 403 233 9366
Email: info@usoilsandsinc.com
Website: www.usoilsandsinc.com Investor Relations
Jack Copping, Manager, Corporate Development
Suite 1600, 521 – 3rd Avenue SW
Calgary, Alberta T2P 3T3
Tel: +1 403 233 9366 ext. 27
Email: jack.copping@usoilsandsinc.com

Company is planning to offer existing Canadian shareholders a chance to buy a second share at a reduced rate for every share they hold, to raise needed capital to bring plant into production. Another entity has offered to buy any shares that are not exercised by shareholders. This will double the issued and outstanding to approx. 1.9 Billion. Then they want to do a 1 for 100 reverse split to reduce outstanding to 19 million. This is to be voted on at Annual meeting.

The Company also is pleased to advise that it has reached agreement in principle for a US$10 million financing in consideration of granting a royalty on bitumen production. Parties are working towards definitive agreements and necessary approvals. Management expects to close the financing by year-end.

US OIL SANDS INC. PROVIDES PROJECT UPDATE, PROGRESS ON FINANCING AND THIRD QUARTER 2015 RESULTS
CALGARY, ALBERTA November 27, 2015 – US Oil Sands Inc. ("US Oil Sands" or the "Company") (TSXV: USO), a company focused on oil sands exploration and production in Utah, today announced that it has filed its unaudited interim financial statements ("Interim Report") for the three and nine month period ended September 30, 2015 ("Q3 2015") along with the management discussion and analysis ("MD&A") of the financial results of US Oil Sands for such period.

A copy of the aforementioned documents may be found for viewing on the System for Electronic Document Analysis and Retrieval website at www.sedar.com as well as US Oil Sands’ website at www.usoilsandsinc.com.

During the third quarter, US Oil Sands continued to make substantial progress in all areas of the PR Spring Project, moving towards mechanical completion of the process extraction plant. Most key pieces of process equipment were delivered to site and either set in place or staged for installation early in the fourth quarter. Mine construction was substantially completed including construction of haul roads, over-burden removal to the top of the first oil sands bed, and topsoil preservation and storage; an important element in the Company’s unique concurrent reclamation plan. The Company has experienced some delay in final engineering of piping, electrical, and instrumentation and delivery of certain equipment components, resulting in the Company now expecting commissioning and commercial start-up to occur in Q1 2016.

The Company also is pleased to advise that it has reached agreement in principle for a US$10 million financing in consideration of granting a royalty on bitumen production. Parties are working towards definitive agreements and necessary approvals. Management expects to close the financing by year-end.

“We are pleased to be working towards completion of our Utah project and excited to be able to successfully demonstrate the commercial effectiveness of our breakthrough technology during the 2016 operating year,” said Cameron Todd, CEO of US Oil Sands. “Completion of this project during one of the most challenging environments seen by our industry will be an outstanding achievement.”



SELECTED QUARTERLY HIGHLIGHTS

Since July 1, 2015, the Company:

Received at site for erection and installation most of the remaining key pieces of process equipment including the paddle dryer, disk stack centrifuge, modular electrical house, office and control room buildings, bulk storage tanks and the heat recovery steam generator;
Completed main pipe rack construction and commenced tank farm construction;
Completed all civil work including foundations and pilings, trenching and underground utilities, water supply pipeline and main gas tie-in from a commercial supply pipeline;
Developed a commissioning and start-up plan with the assistance of an experienced third party engineering firm;
Substantially completed all project engineering;
Completed programming of the facility’s automated process control system; and
Substantially completed work on the mine opening activities, including haul roads, over-burden removal, and topsoil preservation and storage.
In order to provide shareholders, media and other interested stakeholders with a graphic representation of some of these milestones, the Company’s home page of its website (www.usoilsandsinc.com) has been enhanced with a photo gallery capturing the construction progress of the PR Spring Project. Additional pictures will be added as the project progresses to commercial production with a goal of improving shareholder communication and market visibility.


OPERATIONAL HIGHLIGHTS

The pace of field activity in the third quarter matched that of the previous quarter and saw significant milestones achieved on the processing plant construction and the mine opening. The Company did however experience the delayed receipt of certain equipment as well as the delay in receipt of final engineering of piping, electrical and instrumentation. As a result, the Company elected to perform more field installation of these elements.

Preparation for a safe and smooth commercial start-up continued with the development of a commissioning and start-up plan in conjunction with a specialized engineering firm. US Oil Sands successfully hired its lead operations personnel and began training activities utilizing the Company’s pilot processing unit at its Grande Prairie research and development facility. With the majority of the Company’s recruiting program complete, the few remaining operations positions are now expected to be filled early in the new year.


SUBSEQUENT EVENTS

Subsequent to the quarter-end, US Oil Sands engaged McDaniel & Associates Consultants Ltd. ("McDaniel") as its go-forward independent resource evaluators. McDaniel is one of the world’s leading petroleum consulting firms specializing in reserves evaluations and resource assessments and has been evaluating oil sands resources and production since the start of the very first commercial steam assisted gravity drainage project in Canada. Their strong technical expertise combined with their experience evaluating new production technologies strategically fit US Oil Sands’ objectives of commercializing its revolutionary bitumen extraction process.

OUTLOOK

The Company will continue to execute on Phase 1 of the PR Spring Project with on-site erection and installation of the process extraction plant modules in accordance with the Company’s Construction Execution Plan. Field assembly will continue throughout Q4 2015 and into the first quarter of 2016, followed by commissioning and commercial start-up, which is also expected to be complete in Q1 2016.

The Company is focused on its primary success measures of achieving high oil recovery, eliminating tailings ponds, high solvent recovery and recycle rates, low capital intensity, and continuous and safe operations and anticipates that the successful demonstration of these characteristics of the PR Spring Project will open up expansion opportunities as well as future developments in other oil sands areas outside of Utah.
Management will continue to investigate and pursue business development opportunities for the Company’s technology, including opportunities to work with Canadian oil sands developers, leaseholders and government agencies supporting development of Canadian oil sands.
The Company is also evaluating and assessing specific markets for sales of crude oil and other petroleum products, along with optimal logistics of moving these products to market.
ABOUT US OIL SANDS INC.

US Oil Sands is engaged in the exploration and development of oil sands properties and, through its wholly owned United States subsidiary US Oil Sands (Utah) Inc., has a 100% interest in bitumen leases covering 32,005 acres of land in Utah’s Uinta Basin. The Company plans to develop its oil sands properties using its proprietary extraction process which uses a bio-solvent to extract bitumen from oil sands without the need for tailings ponds. The Company is in the pre-production stage, anticipating the commencement of bitumen production and sales in Q1 2016.

The foregoing contains forward-looking information relating to the future performance of the Company including information relating to the development and construction of the PR Spring Project, commencement of commercial production, completion of proposed financing and corporate development activities. Forward looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Such risks and other factors include, among others, the actual results of exploration activities, changes in world commodity markets or equity markets, the risks of the petroleum industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes, change in government and changes to regulations affecting the oil and gas industry, and other risks and uncertainties detailed from time to time in the Company's filings with Canadian securities regulatory authorities (available at www.SEDAR.com). Forward-looking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein. The proposed financing remains subject to negotiation of definitive agreements and obtaining all regulatory approvals and accordingly there is no certainty that the transaction will be completed on the terms described herein or at all. The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For additional information please contact:

Cameron Todd, CEO or Glen Snarr, President & CFO
Tel: +1 403 233 9366

Investor Relations:

Jack Copping, Manager, Corporate Development
Tel: +1 403 233 9366 ext. 27
Email: jack.copping@usoilsandsinc.com
http://www.usoilsandsinc.com/index.php/investors/news-releases/109-us-oil-sands-inc-provides-project-update-progress-on-financing-and-third-quarter-2015-results
Suite 1600, 521 – 3rd Avenue SW
Calgary, Alberta T2P 3T3
Tel: +1 403 233 9366
Email: info@usoilsandsinc.com
Website: www.usoilsandsinc.com

Looking Good

US OIL SANDS INC. PROVIDES PROJECT UPDATE AND ANNOUNCES SECOND QUARTER 2015 RESULTS
http://www.usoilsandsinc.com/index.php?page=home

CALGARY, ALBERTA August 28, 2015 – US Oil Sands Inc. ("US Oil Sands" or the "Company") (TSXV: USO), a company focused on oil sands exploration and production in Utah, having developed a proprietary technology that addresses both the low oil price commodity markets and the continued environmental pressures facing the oil sands industry, today announced that it has filed its unaudited interim financial statements (“Interim Report”) for the three month period ended June 30, 2015 (“Q2 2015”) along with the management discussion and analysis (“MD&A”) of the financial results of US Oil Sands for such period.

A copy of the aforementioned documents may be found for viewing on the System for Electronic Document Analysis and Retrieval website at www.sedar.com as well as US Oil Sands’ website at www.usoilsandsinc.com.

The second quarter for US Oil Sands marked the commencement of 2015 field construction at the PR Spring Project site as utility infrastructure, piles and foundations and pipeline work began. This has been followed by a steady stream of equipment deliveries and subsequent installation as the various elements of the PR Spring Project are completed in readiness for commercial start-up in the fourth quarter.

“After several years of testing, design and preparation, it is exciting to see all the facets of our project come together”, said Cameron Todd, CEO of US Oil Sands. “We are quickly closing in on the finish line with mechanical completion scheduled in just weeks. The project is on budget and targeted for first oil in the fourth quarter. By year-end we expect to be demonstrating our breakthrough extraction technology by delivering clean oil to market from the world’s first commercial oil sands mining and extraction project that does not require a tailings pond. There are a lot of eyes on us and we look forward to fulfilling expectations of the most capital-efficient and environmentally-responsible oil sands project”.

SELECTED QUARTERLY HIGHLIGHTS

Since April 1, 2015, the Company:

Engaged additional construction management team members, recruited operations management and staff, administration and health, safety and environment personnel.
Commenced field work in early May with construction of foundations and pilings, trenching and underground utilities, water and gas supply pipelines, pipe racks, construction office and security command post;
Received key pieces of equipment at PR Spring Project site which were fabricated off-site including primary and secondary separation vessels, a rotating mixer, a clarifier, and a spiral vapour condenser;
Initiated construction of mine opening including haul roads, over-burden removal and topsoil preservation and storage;
Received a favourable ruling from the Utah Division of Oil, Gas and Mining regarding a challenge to the amendment to the Company’s Large Mine Permit whereby the Company applied to optimize the mining sequence at PR Spring which reduces the size of storage areas required for overburden and tailings;
Upgraded the Company’s pilot demonstration unit located at our Grande Prairie, Alberta research and development facility; and
Issued favorable results of testing completed on Canadian oil sands from the Athabasca region of Alberta to Alberta–based research partners. Tests showed USO’s process was notably effective on deposits with low grade bitumen and high clay fines.
“The company’s modular approach to construction has allowed a great deal of off-site fabrication and packaging to take place at multiple staging points, said Cameron Todd, CEO of US Oil Sands. “These modules are now converging on the PR Spring site for final erection and have allowed the Company to greatly increase efficiency, contain costs and improve quality”.

OPERATIONAL HIGHLIGHTS

The second quarter was the most visibly busy quarter in the Company’s history. With the PR Spring Project on budget and scheduling for first oil in the fourth quarter, the pace of field activity is being matched by behind-the-scenes preparation for a safe and smooth commissioning and start-up. As equipment deliveries to Utah based fabrication shops continued, systems were fabricated and packaged for field delivery throughout Q2 and will continue into Q3 2015.

The Company’s PR Spring Project Team and Operations Team are focused on delivering, commissioning and starting up the Project in Q4 2015. The Company’s recruiting program to hire 21 operations personnel commenced in early 2015 with excellent success, and efforts continue as the Company looks to hire and train the remaining plant operators, quality assurance and ore control technicians by the end of Q3 2015.

OUTLOOK

The Company will continue to execute on Phase 1 of the PR Spring Project with on-site erection and installation of the process extraction plant modules as they arrive to site in accordance with the Company’s Construction Execution Plan. Field assembly will continue throughout Q3 2015, followed by commissioning and commercial start-up in Q4 2015.

The Company anticipates having sufficient funds to complete the PR Spring Project however in light of the continued low oil price environment together with the potential for unexpected completion, start-up and operating costs, the Company believes it is prudent to pursue a financing to provide a modest working capital cushion as operations increase to the planned 2,000 barrel per day capacity.

Management will continue to investigate and pursue business development opportunities for the Company’s technology, including expansion of its Utah business, as well as opportunities to work with Athabasca oil sands developers to demonstrate the technology’s favourable extraction capabilities. The Company will broaden its working relationships with leaseholders and government agencies supporting development of Canadian and Utah oil sands.

ABOUT US OIL SANDS INC.

US Oil Sands is engaged in the exploration and development of oil sands properties and, through its wholly owned United States subsidiary US Oil Sands (Utah) Inc., has a 100% interest in bitumen leases covering 32,005 acres of land in Utah’s Uinta Basin. The Company plans to develop its oil sands properties using its proprietary extraction process which uses a bio-solvent to extract bitumen from oil sands without the need for tailings ponds. The Company is in the pre-production stage, anticipating the commencement of bitumen production and sales in 2015.

The foregoing information contains forward-looking information relating to the future performance of the Company including information relating to resource estimates, the development and construction of the PR Spring Project, commencement of commercial production, financing and corporate development activities. Forward looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Such risks and other factors include, among others, the actual results of exploration activities, changes in world commodity markets or equity markets, the risks of the petroleum industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes, change in government and changes to regulations affecting the oil and gas industry, and other risks and uncertainties detailed from time to time in the Company's filings with the Canadian securities administrators (available at www.SEDAR.com). Forward-looking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein. The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

Discovered bitumen resources or discovered bitumen initially-in-place is that quantity of bitumen that is estimated, as of a given date, to be contained in known accumulations on Company lands prior to production. Best estimate is considered to be the best estimate of the quantity that will actually be in-place. It is equally likely that the actual remaining quantities in-place will be greater or less than the best estimate. There is no certainty that it will be commercially viable to produce any portion of the resources. Additional information relating to resource estimates is contained in the Company’s Statement of Resources Data and Other Oil and Gas Information for the year ended and dated December 31, 2014 and available on SEDAR at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.[color=red][color=red][/color][/color]

Very interesting thanks for posting.

http://business.financialpost.com/news/energy/utah-set-to-be-home-of-first-oilsands-mine-project-in-us-by-end-of-2015
July 21, 2015 6:12 PM ET

CALGARY – Despite fierce opposition from American environmental groups, the first commercial oilsands mine in the United States is just months away from starting up after receiving final regulatory approvals from officials in Utah late last week.
“We’ll be in production later in the fall with commercial production before the end of the year,” U.S. Oil Sands Inc. chief executive Cameron Todd said in a phone interview Tuesday.

Calgary-based U.S. Oil Sands is working through the summer to complete a 2,000-barrel-per-day oilsands mine in eastern Utah, which would make it the first commercial oilsands mine in the United States when it begins producing later this year.

Todd noted that oilsands deposits have been used in the U.S. in the past, including in the construction of the first roads in Utah, but have never been mined on a commercial scale. The Uinta basin in the northeastern and central southeastern of the state has more than 50 identified oil sands deposits, with an estimated total of 20 to 32 billion barrels of oil in place.

Late on Friday afternoon, the Utah Department of Natural Resources’ Division of Oil, Gas and Mining announced approvals for an amendment to US Oil Sands’ mine, which is currently under construction about 200 miles southeast of Salt Lake City.

The decision, released after a public hearing on the mine, requires U.S. Oil Sands to conduct water monitoring and submit a monitoring plan for the project by Nov. 1, and the company has indicated that it will comply with those regulations.

Officials from the Utah division of oil, gas and mining did not respond to a request for comment on Tuesday.

“We’ve seen a number of ways to improve the original design,” Todd said. He added that the amendment would increase the size of the project area but “greatly reduce the amount of tailings that would need to be deposited.”

For instance, the company will be using a mining method called “concurrent reclamation,” where the sand from the mine is being replaced at close to the same rate as the oilsands ore from the mine pits are being extracted.

The company is also using a solvent derived from citrus in oranges to extract the oil from the oilsands ore, which Todd said, helps eliminate the need for large tailings ponds like those in northern Alberta.

The company’s plans in Utah were fiercely opposed by what Todd called “anti-development activists,” which participated in public hearings in Utah on the project’s impact, but he said he was confident the company could successfully operate an oilsands mine with minimal tailings.

“The Division of Oil Gas and Mining’s requiring U.S. Oil Sands to devise a ground-water monitoring program and comply with air quality regulations before the PR Spring tar sands mine undergoes a four-fold expansion is a victory for public health and conservation advocates,” Rob Dubuc, staff attorney with environmental group Western Resource Advocates said in a statement.

If it’s successful, the company may seek to monetize its technology through licensing agreements with oilsands mine operators around Fort McMurray, he said.

Despite the citrus-assisted extraction method, U.S. Oil Sands’ mine is being built at roughly a third of the capital cost of larger oilsands mines in northern Alberta, where new capacity is added for about $100,000 per barrel.

At a cost of $60 million, the capital cost of the mine in Utah will be roughly $30,000 per barrel of new capacity and will likely operate at a cost under $30 per barrel.

Once U.S. Oil Sands proves that the company’s extraction method can work, Todd said the company could increase the size of the mine by 10,000 bpd and potentially build other oilsands mines on bitumen deposits in the States and around the world.

US Oil Sands begins work on plant in Uintah County


Can you smell that, Smells like Black Gold
http://www.ubmedia.biz/vernal/news/article_4b374022-f828-11e4-9cbe-236e51210b93.html?mode=story

Thanks for that post. The future looks bright here.

US OIL SANDS INC. PROVIDES OPERATIONAL UPDATE AND ANNOUNCES FIRST QUARTER 2015 RESULTS

US Oil Sands Inc. Provides Operational Update and Announces First Quarter 2015 Results

CALGARY, ALBERTA May 28, 2015 – US Oil Sands Inc. ("US Oil Sands" or the "Company") (TSXV: USO), a company focused on oil sands exploration and production in Utah, having developed a proprietary technology that addresses and overcomes both the low oil price commodity markets and the continued environmental pressures facing the oil sands industry, today announced that it has filed its unaudited interim financial statements (“Interim Report”) for the three month period ended March 31, 2015 (“Q1 2015”) along with the management discussion and analysis (“MD&A”) of the financial results of US Oil Sands for such period.

A copy of the aforementioned documents may be found for viewing on the System for Electronic Document Analysis and Retrieval website at www.sedar.com as well as US Oil Sands’ website at www.usoilsandsinc.com.

In the first quarter this year, US Oil Sands initiated its construction management team in order to commence PR Spring field construction in May. Construction is underway at the site as utility infrastructure, piles and foundations and pipeline work has been kicked off.

“We are thrilled to have tapped a construction team of this high caliber”, said Cameron Todd, CEO of US Oil Sands. “The project is on budget and we expect to be demonstrating our breakthrough extraction technology with a Q4 start-up. Before year-end, we are planning to be delivering clean oil to market from the world’s first commercial oil sands mining project without a tailings pond”.

SELECTED QUARTERLY HIGHLIGHTS

Since January 1, 2015, the Company:

Expanded PR Spring project staff with the engagement of a construction manager, logistics, procurement personnel and inspection personnel;
Placed orders for shipment of key long-lead pieces of equipment from overseas to the US, with transportation to fabricators occurring after quarter-end;
Transitioned the engineering contract and key engineering contract personnel to Precision System Engineering, Inc., an experienced local Salt Lake City firm, as a result of Kellogg Brown & Root LLC’s decision to shut down their Mineral Engineering Division and close its Salt Lake office;
Completed upgrades and improvements to the pilot demonstration unit and laboratory in the Grande Prairie research and development facility; and
Completed a testing program using oil sands supplied from the Athabasca region of Alberta. Tests were designed and completed with the participation of two Athabasca oil sands industry operators alongside a Province of Alberta agency supporting technology development in the Canadian oil sands. Results clearly demonstrated that the Company’s technology has broad application in Alberta as well as Utah. The process was notably effective on low grade bitumen and high clay fines ore.
OPERATIONAL HIGHLIGHTS

The PR Spring Project is expected to be on schedule and on budget. Equipment deliveries to Utah based fabrication shops continue as systems are fabricated and packaged for field delivery throughout Q2 and Q3 2015. The Company’s PR Spring Project Team and Operations groups are focused on delivering, commissioning and starting up the Project in early Q4 2015. Recruiting of key operations staff commenced in Q1 2015 and efforts continue as the Company looks to hire and train 21 operations personnel by the end of the Q3 2015.

Coincident with the release of its year-end financial information, and in compliance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities, the Company released the independent resource evaluation report issued by Calgary-based Sproule Unconventional Limited ("Sproule") dated December 31, 2014. The evaluation results detail the bitumen resource assessment of the Company's PR Spring property in Utah as of December 31, 2014, and incorporate the results of the 184 wells drilled and cored on the Company’s PR Spring development block in 2011 and 2012. Sproule’s independent best estimate of discovered resource is 184.3 million barrels and remains unchanged from the prior year.

SUBSEQUENT EVENTS

On May 27, 2015, US Oil Sands held its Annual General and Special Meeting of Shareholders. The Company is pleased to report that all resolutions were passed as presented in the Company’s Management Information Circular dated April 22, 2015. The Company’s presentation to shareholders can be viewed by visiting www.usoilsandsinc.com.
OUTLOOK

The Company will continue to execute on Phase 1 of the Project with off-site fabrication of the process extraction plant modules in progress. As equipment arrives into our Utah fabricator’s yards, it will be fit out with piping, electrical, instrumentation and controls and readied for transportation to the Project site in accordance with the Company’s Construction Execution Plan. Field assembly will take place throughout Q2/15 and Q3/15, followed by commissioning and commercial start-up in Q4/15.

Management will continue to investigate and pursue business development opportunities for the Company’s technology, including opportunities to work with Athabasca oil sands developers to demonstrate the technology’s favourable extraction outcomes. The Company will broaden its working relationships with leaseholders and government agencies supporting development of Canadian oil sands.





ABOUT US OIL SANDS LTD.

US Oil Sands is engaged in the exploration and development of oil sands properties and, through its wholly owned United States subsidiary US Oil Sands (Utah) Inc., has a 100% interest in bitumen leases covering 32,005 acres of land in Utah’s Uinta Basin. The Company plans to develop its oil sands properties using its proprietary extraction process which uses a bio-solvent to extract bitumen from oil sands without the need for tailings ponds. The Company is in the pre-production stage, anticipating the commencement of bitumen production and sales in 2015.

The foregoing information contains forward-looking information relating to the future performance of the Company including information relating to resource estimates, the development and construction of the PR Spring Project, commencement of commercial production and corporate development activities. Forward looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Such risks and other factors include, among others, the actual results of exploration activities, changes in world commodity markets or equity markets, the risks of the petroleum industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes, change in government and changes to regulations affecting the oil and gas industry, and other risks and uncertainties detailed from time to time in the Company's filings with the Canadian securities administrators (available at www.SEDAR.com). Forward-looking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein. The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

Discovered bitumen resources or discovered bitumen initially-in-place is that quantity of bitumen that is estimated, as of a given date, to be contained in known accumulations on Company lands prior to production. Best estimate is considered to be the best estimate of the quantity that will actually be in-place. It is equally likely that the actual remaining quantities in-place will be greater or less than the best estimate. There is no certainty that it will be commercially viable to produce any portion of the resources. Additional information relating to resource estimates is contained in the Company’s Statement of Resources Data and Other Oil and Gas Information for the year ended and dated December 31, 2014 and available on SEDAR at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Waiting on the next update of progress on the plant. UERLF

Extraction Process and how they differ from Suncor
http://www.usoilsandsinc.com/index.php/operations/extraction-process

OUTLOOK

2015 will again be a very busy one for the Company. The Company will continue to focus on Phase 1 of the Project with off-site fabrication of the process extraction plant modules next in scope. Some major equipment has already arrived into our Utah fabricator’s yards being readied for modular skidding. This will be an ongoing theme for the next four to five months. As modular skids are completed, they will be transported to the Project site in accordance with the Company’s Construction Execution Plan, to be assembled throughout Q2/15 and Q3/15, followed by commissioning and commercial start-up.

Management continues to investigate and pursue business development opportunities for the Company’s technology. The Company will continue to work with Athabasca oil sands developers to demonstrate the technology’s favourable extraction outcomes and will look to broaden its working relationships with leaseholders and government agencies supporting development of Canadian oil sands. The technology addresses and overcomes both the low oil price commodity markets and the continued environmental pressures facing the oil sands industry.

RESOURCE EVALUATION REPORT

The Company engaged Calgary-based Sproule Unconventional Limited ("Sproule") to complete an independent resource evaluation report dated December 31, 2014 (the "Sproule Report") in compliance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities. The Sproule Report details the bitumen resource assessment of the Company's PR Spring property in Utah, as of December 31, 2014, and incorporates the results of the 184 wells drilled and cored on the Company’s PR Spring development block in 2011 and 2012. Sproule’s independent best estimate of discovered resource is 184.3 million barrels and remains unchanged from the prior year.

US Oil Sands’ PR Spring property lies within the State of Utah’s PR Spring Special Tar Sand Area and consists of four leases that encompass 5,930 acres. The Company also holds leases on an additional 26,075 acres that have not been explored and therefore, not evaluated in the Sproule Report. US Oil Sands currently holds 100% working interest in its Utah-based assets.

As at December 31, 2014, the Company had cash and cash equivalents of CDN$64,390,338, net working capital of CDN$60,601,980 and commitments for capital expenditures US$4,100,206, all related to the PR Spring Project. The Company intends to use its cash and cash equivalent balance to fulfill its current liabilities and fund its PR Spring Project.

Some of the achievements in 2014 include:

Issuance of the patent from the United States Patent and Trademark Office on the Company’s bitumen extraction process;
The appointment of Mr. Mark H. Brown, P.Eng. to its Board of Directors, effective April 15, 2014;
The Company’s Board of Directors approved the Final Investment Decision to proceed with construction of the PR Spring Project (the "Project");
All major process extraction equipment components have been ordered. As at year end, the Company has commitments of US$4.1 million for capital equipment and engineering, and in 2014, invested US$12.2 million;
Completion of plant site field construction to accept delivery of process extraction equipment modules in Q2/15 and Q3/15;
Completed construction of a 4,800 square foot warehouse facility at the Project site;
Opened a second office location in Utah to act as a base of operations for the Project;
Expanded permanent staff to support PR Spring Project development including a Project Manager, an HSE & Regulatory Manager, a Supply Chain & Project Services Manager, and project and process engineers. To support the Company’s expanded research and development initiatives, the Company has also added a Research and Development Manager who is an experienced PhD scientist with significant oil sands experience;
Announced the addition of Mr. Ed Koshka, Vice President, Business Development & Marketing, to its executive management team effective September 2, 2014;
Initiated a program, with the support of two Athabasca oil sands industry developers, to procure significant quantities of oil sands from Athabasca resource deposits and to test the extraction efficacy of the Company’s patented technology; and
In a unanimous decision, the Utah Supreme Court dismissed the only outstanding regulatory challenge made against the Project.

“2014 was without a doubt the busiest ever for the Company” said Cameron Todd, CEO of US Oil Sands. “Following quickly on the heels of the late-2013 CDN$81 million equity financing, our small project team was immediately tasked with bringing the PR Spring Commercial Demonstration Project from the drawing board to the field. In early 2014 we assembled a team with world-class expertise in project and construction management and we have continued to add to that team as the Project accelerates. Now that all major equipment has been ordered, our attention is now squarely focused on the modular fabrication and skidding of this equipment followed by shipment to the field in mid-2015. The Project remains on track and on budget to commence installation and commissioning in the second and third quarters of this year.”

OPERATIONAL HIGHLIGHTS

With the Board of Directors’ approval of the Final Investment Decision to proceed with construction of an enhanced Phase 1 Project at its PR Spring location in Utah, the Company assembled an experienced team to contribute all aspects of engineering, project management, construction management and field operations. To support the increased activity, the Company opened a second office location in Utah to act as a base of operations for the Project.

Field grading commenced in Q2/14 and continued into Q3/14 which saw the entire plant site graded, fenced and foundations prepared to accept the plant extraction modules anticipated to be delivered to the Project site during Q2/15 and Q3/15. Roadways and utility supply infrastructure were commenced during 2014 and will resume in early 2015 as weather allows.

Engineering and procurement was a major focus for the Project throughout 2014. Over 24,000 man-hours of engineering were invested to design all elements of the Project. During 2014, the Company utilized the engineering expertise of Kellogg Brown & Root LLC (“KBR”) and FLSmidth USA Inc. to fulfill much of this requirement. In late December 2014, KBR announced the impending closure of its Salt Lake City office. The Company transitioned the engineering contract and all key engineering personnel to Precision System Engineering, Inc., an experienced local Salt Lake City firm. Construction management will be performed by the Company and directly engaged personnel who have expertise in the oil sands industry.

http://www.usoilsandsinc.com/

New 52 week low hit today. Looking forward to a Plant construction update.

US OIL SANDS INC. ANNOUNCES 2014 YEAR END RESULTS, FILING OF RESOURCE EVALUATION REPORT, GRANT OF SECURITY BASED COMPENSATION AND PROVIDES OPERATIONAL UPDATE

http://www.usoilsandsinc.com/

US Oil Sands Inc. Provides Operational Update, Announces Third
Quarter 2014 Results


GARY, ALBERTA November 18, 2014 – US Oil Sands Inc. ("US Oil Sands" or the "Company") (TSXV:
USO), a company focused on oil sands exploration and production in Utah today announced that it has
filed its unaudited interim financial statements (“Interim Report”) for the three month period ended
September 30, 2014 (“Q3 2014”) along with the management discussion and analysis (“MD&A”) of the
financial results of US Oil Sands for such period.
A copy of the aforementioned documents may be found for viewing on the System for Electronic
Document Analysis and Retrieval website at www.sedar.com as well as US Oil Sands’ website at
www.usoilsandsinc.com.
“US Oil Sands met a significant milestone during the quarter by completing the grading and preparation
of the PR Spring Project plant site and procuring all major equipment for the PR Spring Project,” said
Cameron Todd, CEO of US Oil Sands. “We are excited to progress to the fabrication phase of the Project
in preparation for modular installation, commissioning and ultimately, commercial production in 2015.”
SELECTED QUARTERLY HIGHLIGHTS
Since July 1, 2014, the Company:
• Announced that it ordered all of the major equipment components required for construction of
the PR Spring Project (the "Project");
• Announced that it completed field construction of the plant site to accept delivery of process
extraction equipment modules when shop fabrication is complete;
• Initiated construction of foundations for the facility warehouse to be completed prior to year
end;
• Continued mine planning efforts to refine and optimize detailed pit sequencing and mine
logistics;
• Opened a second office location in Utah to establish a local presence and act as a base of
operations for the Project; and
• Announced the addition of Mr. Ed Koshka, Vice President, Business Development & Marketing,
to its executive management team effective September 2, 2014.OPERATIONAL HIGHLIGHTS
During the third quarter of 2014, the Company’s project team continued to work with its engineering
consultants and equipment suppliers to complete final engineering design and procure equipment for
the PR Spring Project. Having ordered all of the major equipment components required for construction
of the Project and completed construction of the plant site, it will focus on foundation and building
construction into 2015. The Company is targeting installation in mid-2015 with commissioning to follow.
Process Flow Diagrams (PFD’s) for the major equipment were completed during the quarter and Piping
and Instrumentation Diagrams (PID’s) were underway for most equipment packages. The Company
continued field work, substantially completing plant-site grading and making further progress on
roadways and utility supply infrastructure. Mine planning efforts to optimize detailed pit sequencing and
mine logistics continued to progress. The Company opened a second office location in Utah to establish
a local presence and act as a base of operations for the Project.
OUTLOOK
For the remainder of 2014, the Company will continue to focus on the PR Spring Project Phase 1 detailed
engineering of the modules. Management anticipates that the off-site fabrication of the process
extraction plant modules will begin in the first quarter of 2015, with final off-site fabrication and field
assembly occurring in mid-2015, followed by commissioning and commercial start-up.
To ensure a ready inventory of future mineable assets for the Company, management intends to
continue to pursue opportunities to add additional resource lands by assessing growth prospects and
furthering regulatory application efforts.
ABOUT US OIL SANDS LTD.
US Oil Sands is engaged in the exploration and development of oil sands properties and, through its
wholly owned United States subsidiary US Oil Sands (Utah) Inc., has a 100% interest in bitumen leases
covering 32,005 acres of land in Utah’s Uinta Basin. The Company plans to develop its oil sands
properties using its proprietary extraction process which uses a bio-solvent to extract bitumen from oil
sands without the need for tailings ponds. The Company is in the pre-production stage, anticipating the
commencement of bitumen production and sales in 2015.
The foregoing information contains forward-looking information relating to the future performance of the
Company including information relating to the development and construction of the PR Spring Project, mine
planning, commencement of commercial production and corporate development activities. Forward looking
information is subject to a number of known and unknown risks, uncertainties and other factors that may cause
actual results to differ materially from those anticipated in our forward looking statements. Such risks and other
factors include, among others, the actual results of exploration activities, changes in world commodity markets or
equity markets, the risks of the petroleum industry including, without limitation, those associated with the
environment, delays in obtaining governmental approvals, permits or financing or in the completion of
development or construction activities, title disputes, change in government and changes to regulations affecting
the oil and gas industry, and other risks and uncertainties detailed from time to time in the Company's filings with the Canadian securities administrators (available at www.SEDAR.com). Forward-looking statements are made
based on various assumptions and on management's beliefs, estimates and opinions on the date the statements
are made. Should one or more of these risks and uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those described in the forward-looking information
contained herein. The Company undertakes no obligation to update forward-looking statements if these
assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by
applicable law.
Discovered bitumen resources or discovered bitumen initially-in-place is that quantity of bitumen that is
estimated, as of a given date, to be contained in known accumulations on Company lands prior to production. Best
estimate is considered to be the best estimate of the quantity that will actually be in-place. It is equally likely that
the actual remaining quantities in-place will be greater or less than the best estimate. There is no certainty that it
will be commercially viable to produce any portion of the resources. Additional information relating to resource
estimates is contained in the Company’s Statement of Resources Data and Other Oil and Gas Information for the
year ended December 31, 2013 dated April 2, 2014 and available on SEDAR at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This time next year, The PPS will be in dollar land

http://www.newswire.ca/en/story/1425262/us-oil-sands-inc-provides-update-on-progress-of-pr-spring-project

Alberta Ministers of Energy and Transportation & Infrastructure Tour
US Oil Sands’ Grande Prairie Pilot Facility


http://www.usoilsandsinc.com/en/news/140710_uso_minister_visit_final.pdf


CALGARY, ALBERTA July 10, 2014 – US Oil Sands Inc. ("US Oil Sands" or the "Company") (TSXV: USO), a
company focused on oil sands exploration and production in Utah, recently welcomed The Honourable
Diana McQueen, Alberta Minister of Energy, and the Honourable Wayne Drysdale, Minister of
Transportation & Infrastructure, to tour its bitumen extraction pilot facility in Grande Prairie, Alberta.
Management also welcomed Ross Chow, Vice President, Oil & Gas Sector, Alberta Innovates –
Technology Futures to learn about the Company’s environmentally sustainable bitumen extraction
technology.
“US Oil Sands developed this facility in
2007 and we’ve successfully
demonstrated the use of our
biodegradable, non-toxic bio-solvent
to extract bitumen from a variety of oil
sands,” said Cameron Todd, CEO of US
Oil Sands. “The Ministers’ visit will
bring awareness of our breakthrough
extraction process which eliminates
the need for tailings ponds and offers
numerous environmental and
economic benefits when compared to
current oil sands projects.”
The facility has allowed the Company
to optimize its extraction process,
improving bitumen recovery from a
broader range of oil sand ores, increasing solvent and water recovery, and reducing overall operating
costs. US Oil Sands’ Board of Directors recently approved a series of major project enhancements and
made the Final Investment Decision to proceed with construction of Phase 1 of the PR Spring Project in
Utah which is expected to achieve commercial production in the second half of 2015.

Utah Supreme Court Dismisses Challenge against US Oil Sands’ PR
Spring Project, Affirms Validity of the Company’s Permit
CALGARY, ALBERTA June 25, 2014 – US Oil Sands Inc. ("US Oil Sands" or the "Company") (TSXV: USO), a
company focused on oil sands exploration and production in Utah, announced today that the Utah
Supreme Court (the "Court") has dismissed the only outstanding regulatory challenge made against the
Company’s PR Spring Project (the "Project"), located in Utah’s Uintah and Grand Counties. In a
unanimous decision, the Court found that the groundwater discharge permit-by-rule originally issued in
2008 by the Utah Division of Water Quality was correctly issued based on the conclusion that the
Company’s extraction process would have a "de-minimus" or negligible impact on ground water quality.
Notably, the Company’s process uses low impact, non-toxic substances without the use of tailings ponds
and emits no free water or process fluids as it recycles its water and bio-solvent. Changes or
enhancements made to the Project since that time were not judged to have any negative material
impact on the original approval.
Further, the Court found that appellants challenging a permit decision must do so on a timely basis,
thereby providing finality with respect to regulatory decisions and allowing permit holders to
expeditiously proceed with their projects.
Cameron Todd, CEO of US Oil Sands commented, “We are pleased that the Court clearly supports the
validity of permits granted to the Company’s PR Spring Project. US Oil Sands has continually
demonstrated its commitment to environmentally responsible energy development and expects to
showcase its breakthrough extraction technology when the Project begins producing next year.”

I had to LOL when I visited American Sands Energy website, GLTA who invests in that scam

I certainly would not consider that other one you mentioned. It seems they are handing out shares for debt at huge discounts. I would never pay .70 for shares they are doling out for .35. If management is of the opinion the value is .35 I will take their word for it and consider that the max.

Has UERLF leased AMSE their tech?

http://www.usoilsandsinc.com/en/news/140514_q1_press_release_v5_final_for_release1.pdf

This could turn out to be a gift of a price. We just need to quietly buy for a couple years. Be a predator for shares.

http://www.usoilsandsinc.com/en/news/140422_uso_resource_and_patent_final.pdf

I've been buying, This is flying so far under the radar, few investors know bout it, keeping the pps low

Who's buying?

SeekingAlpha article on peer Utah Oil Sands Company, American Sands Energy, [AMSE].

http://www.au-wire.com/american-sands-energy-first-mover-in-the-emerging-u-s-oil-sands-industry/

The PPS could reach 18.00 USD with weeks of operation IMO

http://www.usoilsandsinc.com/en/documents/uso-factsheet-process-feb2014.pdf