Friday, 19 February 2010

Del Mar, CA – United States Oil & Gas Corp (USOG) the growing oil and gas services company saw a solid run on its stock on Thursday 18th on the back of strong performances of its subsidiaries, Turnbull Oil and United Oil.


Turnbull Oil, which was acquired in May 2009, generated $4.4m in sales revenue and posted $278 000 in Earnings before Interest, Taxes, Depreciation and Amortization in the fourth quarter of 2009. The annual audit for the full year 2009 results are in the process of being finalized by a certified Public Oversight Board and will be available shortly.


Alex Tawse, CEO of USOG, commented: "Turnbull's sales exceeded forecasts in large part due to increased demand for its fuels as colder weather gripped much of the Midwest.”


United Oil of Bottineau, North Dakota which USOG purchased in January 2010 is presently seeing demand for its products outstrip its supply capabilities. Good news for parent company, USOG. Financials will follow in the near future.


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1 comment:

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