U.S. Energy Corp. to be Added to Russell 3000 Index and Global Index
RIVERTON, Wyo., Jun 24, 2010 (GlobeNewswire via COMTEX News Network) -- U.S. Energy Corp. (Nasdaq:USEG) ("USE" or the "Company"), a natural resources exploration and development company with interests in oil and gas, molybdenum, geothermal, and real estate assets, announced today that based on the Russell Index preliminary list dated June 11, 2010 and their updated list as of June 18, 2010, USE anticipates being added to the Russell 3000 Index and the Russell Global Index when Russell Investments reconstitutes its family of U.S. Indexes on June 25, 2010.
The Russell 3000 Index is a stock market index of U.S. stocks and measures the performance of 3,000 publicly held U.S. companies based on total market capitalization, which represents approximately 98% of the investable U.S. market. The Russell Global Index shows market capitalization of global market equity. The indexes offer analysts, portfolio managers and other investors a comprehensive, unbiased benchmark by which to compare their performance.
Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market capitalization rankings and style attributes. For more information on the USE's addition to the Russell 3000 and to obtain the index's preliminary list of additions, please visit Russell's website at www.russell.com.
"The group of Russell Indexes provides a valuable benchmarking tool for investors and objectively tracks performance on some of the country's top publicly traded companies," stated Keith Larsen, CEO of U.S. Energy Corp. "This represents another important step in exposing our compelling story to the investment community," he added.
Forward-Looking Statements
This news release includes statements which may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect,""target," "goal," or similar expressions. Forward looking statements in this release relate to, among other things, USE's drilling of wells with Brigham Exploration, Houston Energy, Yuma, PetroQuest, and other partners, its ownership interests in those wells and their expected costs, and the oil and natural gas targets or goals for the wells. There is no assurance that any of the wells (referenced in this press release) will be productive. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in commodity and/or mineral prices, the availability of capital, competitive factors, and other risks described in the Company's filings with the SEC (including, without limitation, the Form 10-K for the year ended December 31, 2009 and the Form 10-Q filed May 10, 2010. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this release.
Disclosure Regarding Mineral Resources Under SEC and Canadian
Regulations
The Company owns or may come to own stock in companies which are traded on foreign exchanges, and may have agreements with some of these companies to acquire and/or develop the Company's mineral properties. An example is Sutter Gold Mining Inc. These other companies are subject to the reporting requirements of other jurisdictions.
United States residents are cautioned that some of the information available about our mineral properties, which is reported by the other companies in foreign jurisdictions, may be materially different from what the Company is permitted to disclose in the United States. For further information on the differences between the reporting limitations of the United States, compared to reports filed in foreign jurisdictions, and also concerning forward-looking statements, please see the Company's Form 10-K ("Disclosure Regarding Forward-Looking Statements"; "Disclosure Regarding Mineral Resources under SEC and Canadian Regulation"; and "Risk Factors").
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 1-800-776-9271 Reggie@usnrg.com The Equicom Group Investor Relations Nick Hurst 1-403-538-4845 nhurst@equicomgroup.com
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