USOG Posts Positive Financials

Online, June 1, 2010 (Newswire.com) - Carson City, NV -- United States Oil and Gas Corp (PINKSHEETS: USOG) a growing oil and gas products, services and technology company recently released consolidated financial results for the first quarter 2010.

The company posted a gross profit of $737,000 and net income of $137,000 for the first quarter of 2010, on revenues of $5.6 million from the sale of refined fuels and other service activity.

Cash at the end of the quarter was $503,000 with total assets of $6.7 million. Results reflect the consolidated performances of the Company's two wholly owned operating subsidiaries, Turnbull Oil which was acquired in May 2009, and United Oil & Gas, Inc. which was acquired in January 2010.

Chairman and CEO Alex Tawse commented, "We are pleased with the results and are continuing to experience improvements that bode well for us and the industry in general. This is the first quarter with both subsidiaries' consolidated results and the profit and sales volume growth, especially with propane, is very encouraging."

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United States Oil & Gas Corp. (Other OTC: USOG), BP (NYSE:BP), Apple Inc. (NASDAQ:AAPL), SHOT SPIRITS CORP (PINK:SSPT), Liberty Star Uranium & Metals Corp. (OTCBB:LBSR), Wolverine Exploration Inc (OTCBB:WOLV)

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Other Stocks to Watch:
BP (NYSE:BP)

BP (BP) is an international oil and gas company. The Company operates in more than 80 countries, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products.

Apple Inc. (NASDAQ:AAPL)

Apple Inc. (Apple) designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video players, and sells a variety of related software, services, peripherals, and networking solutions

SHOT SPIRITS CORP (PINK:SSPT)

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Liberty Star Uranium & Metals Corp. (OTCBB:LBSR)

Liberty Star Uranium & Metals Corp. (Liberty Star) is an exploration stage company engaged in the acquisition and exploration of mineral properties in the States of Arizona and Alaska.

Wolverine Exploration Inc (OTCBB:WOLV)

Wolverine Exploration Inc. is an exploration-stage company. The Company is engaged in the business of acquisition and exploration of base and precious metal mineral properties.

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