U.S. Oil & Gas plc - Regulatory Update PR Newswire Regulatory Update U.S. Oil & Gas Plc, ("USOIL" or the "Company"), the oil and gas exploration company with assets in Nevada, makes the following announcement: Following further statements by the Biden Administration regarding the January 20, 2021 temporary suspension of the issuing of new drilling permits on Federal lands, and the consensus industry view, the Company believes that the potential impact on its exploration plans and prospects are not material. Most importantly, permitting of wells on the Company's existing leases is expected to continue as normal after the announced 60 day moratorium on permit approvals has run its course.