U.S. Energy Corp. Announces a Public Offering of 5,000,000 Shares of Common Stock
RIVERTON, Wyo., Dec 1, 2009 (GlobeNewswire via COMTEX News Network) -- U.S. Energy Corp. (Nasdaq:USEG) (the "Company") today announced that it has commenced an underwritten public offering of 5,000,000 shares of common stock. The Company will also grant the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock to cover over-allotments, if any.
The Company intends to use the proceeds from the offering (net of underwriting discounts and expenses) to fund its capital expenditure program through 2010, with specific emphasis on the expansion of its Williston Basin drilling program with Brigham Exploration Company and further drilling participation with PetroQuest Energy and Yuma Exploration.
In connection with the offering, SMH Capital Inc. is acting as sole book-running and lead manager and C.K. Cooper and Company is acting as co-manager for the offering. An investor may obtain a free copy of the prospectus as supplemented by visiting EDGAR on the SEC website at www.sec.gov. A copy of the prospectus and prospectus supplement relating to the offering may also be obtained from the offices of: SMH Capital Inc., 527 Madison Ave., 14th & 15th Floors, New York, NY 10022, (212) 317-2700 and C.K. Cooper and Company, 18300 Von Karman Ave., Suite 700, Irvine, CA 92612, (949) 477-9300.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the shares described herein, nor shall there be any sale of these shares in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering is being made only by means of a prospectus and related prospectus supplement, which are part of an effective registration statement.
About U.S. Energy Corp.
U.S. Energy Corp. is a diversified natural resource company with interests in oil and gas, molybdenum, geothermal and real estate assets. The Company is headquartered in Riverton, Wyoming, and its common stock is listed on The NASDAQ Capital Market under the symbol "USEG".
The U.S. Energy Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5043
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SOURCE: U.S. Energy Corp.
CONTACT: U.S. Energy Corp. Reggie Larsen, Director of Investor Relations (800) 776-9271 Reggie@usnrg.com The Equicom Group Investor Relations Nick Hurst (403) 538-4845 nhurst@equicomgroup.com
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