US Energy Holdings, Inc. is an aspiring South Texas energy resource company with an emphasis on oil and gas development drilling and production. Claude Eldridge, US Energy Holdings, Inc.'s new Chairman / CEO stated today "I am dedicated to the revitalization of jobs in the energy sector, as one of the world's most important subjects it has become increasingly important for our company to invest in our world's resources, technology, and economic future".
Tim Foust, US Energy Holdings, Inc.'s new President added "US Energy Holdings, Inc. will focus on the acquisition of long-life proven resources that offer the opportunity to increase current production on producing wells as well as begin new production on acquired properties for sites located through new technology".
Most Recent Press Release
HOUSTON, TX, Mar 31, 2006 (MARKET WIRE via COMTEX) -- US Energy Holdings, Inc. (USEHE) is pleased to announce the completion of its Letter of Intent with Adams Ranch to acquire 200 natural gas well sites in Ozona, Texas. All documents should be completed by March 31st, 2006.
Due to the fires in North Texas, the South Texas natural gas wells should see a significant increase in supply and demand. As published by KansasCity.com (The Kansas City Star) in the midday report of March 28th, the price has risen another three cents per 1,000 cubic feet bringing today's price to $7.12 USD. The International Council for Capital Formation in the United Kingdom also stated "...there will be an average increase of 41% of natural gas prices by 2010..." Due to this demand, US Energy Holdings, Inc. will launch a full aggressive drilling program.
This stock has begun to MOVE!! With price of oil sitting at $72.90, companies in the oil drilling sector poised to make substantial profits!!