$UNGS - updated in OTC markets 03/25/13
UNGS STATUS UPGRADED TO CURRENT INFORMATION:
US Natural Gas Corp Files its Unaudited 2012 Annual Report with OTC Markets
Company Status Upgraded to Current Information
ST. PETERSBURG, Fla. March 25, 2013 --
US Natural Gas Corp (OTC Pink:UNGS), an energy exploration company with operations in the Appalachian Basin is pleased to inform shareholders that the Company has filed its unaudited 2012 Annual Report with OTC Markets. Additionally, the Company's status with OTC Markets has been upgraded from Limited to Current Information.
Certain highlights of the report include divesture of non-performing assets, execution of a Letter of Intent for the sale of certain West Virginia assets, execution of a Letter of Intent for the acquisition of certain assets of a performing natural gas production company in West Virginia, reduction in liabilities through the issuance of common stock to officers for accrued wages and the return of the Company to a fully reporting entity. The Company's unaudited 2012 Annual Report can be found at www.otcmarkets.com.
"We are pleased to have all filings current and to proceed as planned on once again become a fully reporting Company," said Wayne Anderson, President of US Natural Gas Corp. "The Company's ability to reduce its liabilities through the issuance of restricted common stock to two officers for accrued wages not only improves its balance sheet, but also confirms the continued confidence for the outlook of the Company."
About US Natural Gas Corp
US Natural Gas Corp is an independent energy company principally engaged in the acquisition, exploration and development of mature long-lived oil and natural gas properties. The company's current operations are concentrated in the Appalachian Basin within the states of Kentucky and West Virginia with core assets consisting of 17,000 acres of mineral rights leases and interest in approximately 150 oil and gas wells. More information on US Natural Gas Corp can be found on the Company’s website at www.usnatgascorp.com. Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Additional risks and uncertainties are set forth in the Company's Unaudited Annual Report for the year ended December 31, 2012, which can be found on the OTC Markets website, www.otcmarkets.com.
Contact:
US Natural Gas Corp
(727) 482-1505
info@usnatgascorp.com
