U.S. Oil & Gas plc - GXG Markets - Update

10 February, 2015

                              U.S. Oil & Gas Plc.

                         ("U.S. Oil" or the "Company")

                             GXG Markets - Update

U.S. Oil & Gas Plc (GXG London: USOP, OTC New York: USOPY), the oil and gas
exploration company with exploration assets in Nevada, makes the following
statement:

GXG Markets have announced that a Due Diligence Report on US Oil and Gas has
been requested.

The Board of US Oil and Gas unreservedly welcomes this exercise and hopes that
the process is expedited in the interests of the Company and shareholders.

The Company believes that the GXG investigation was prompted by allegations
made to GXG, including anonymous and internet allegations, and expects that the
Due Diligence Report will effectively and finally put an end to a sustained
campaign of vilification and defamation.


Extraordinary General Meeting  (EGM)

The Board judges that until the GXG trading suspension is resolved, it would be
premature to call an EGM immediately as previously envisaged. However, in due
course the Board will call a shareholder meeting, subject to the relevant
processes and procedures.

THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS
ANNOUNCEMENT

Neither this announcement nor the information contained herein constitutes an
offer or solicitation by U.S. Oil and Gas plc for the purchase or sale of any
securities nor does it constitute a solicitation to any person in any
jurisdiction where solicitation would be unlawful.

For further information contact:
Brian McDonnell, Chief Executive Officer [phone]

Alexander David Securities Ltd - Corporate Finance Adviser
David Scott [phone]
James Dewhurst [phone]
Email:  [e-mail]

ADR Broker Desk, Deutsche Bank
United Kingdom

Simon Davies and Richard Willis
Tel: [phone]
Fax: [phone]
E-mail: [e-mail]

USA
Jay Berman
Tel: [phone]
Fax: [phone]
E-mail: [e-mail]

About American Depositary Receipts (ADRs)
An ADR is a negotiable certificate that represents ownership in securities of a
non U.S. company. ADRs are issued by a sponsoring U.S. bank and denominated in
U.S. dollars. An ADR represents a specified number of shares (or one share) in
a foreign stock that is traded on a U.S. exchange.

ADRs allow foreign companies shares to be traded in a similar manner to shares
in U.S. companies on the New York Stock Exchange (NYSE), the American Stock
Exchange (AMEX), Nasdaq and the over-the-counter (OTC) market. ADRs enable U.S.
citizens to acquire shares in a foreign company without the need for cross
border or cross currency transactions. Any dividends and capital gains are in
U.S. dollars.

About U.S. Oil & Gas
U.S. Oil & Gas plc, (GXG London: USOP, OTC New York: USOPY), is an oil and gas
exploration company with a strategy to identify and acquire oil and gas assets
in the early phase of the upstream life-cycle and mature them. The Company's
main asset is in Nye County, Nevada where it holds the entire share capital of
US-based company Major Oil International LLC ("Major Oil"). Major Oil has
acquired rights to exploration and development acreage in Hot Creek Valley, Nye
County, adjacent to the oil and gas rich Railroad Valley area of Nevada, both
of which are part of the Sevier Thrust of central Nevada and western Utah, USA.

U.S. Oil & Gas PLC.

For further information please refer to our website at: www.usoil.us