SmallCapNewsRelease: (OTC: USOG) Profitable For First Quarter 2010

JERICHO, NY--(SmallCapNewsRelease)--June 1st, 2010, United States Oil and Gas Corp (OTC: USOG) announced today that they posted a gross profit of $737,000 for the first quarter of 2010.

United States Oil and Gas two wholly owned subsidiaries Turnbull Oil, acquired in May 2009 and United Oil & Gas, acquired January 2010 posted a net income of $137,000 for the first quarter on revenues of $5.6 million.

Cash reported at the end of the quarter was $503,000 with total assets of $6.7 million.

To view the entire press release, please visit http://finance.yahoo.com/news/United-States-Oil-and-Gas-iw-3633593470.html?x=0&.v=1

For more information on USOG please visit www.stocksource.us/focus-stock.html

SmallCapNewsRelease gainers are Birks & Mayors Inc (AMEX: BMJ) Jones Soda Co (NASDAQ: JSDA) ev3 Inc (NASDAQ: EVVV) eLong Inc (NASDAQ: LONG) WSP Holdings Ltd (NYSE: WH) Mediacom Communications Corp (NASDAQ: MCCC) Golfsmith International Holdings (NASDAQ: GOLF) Engex Inc (AMEX: EGX) Hurray! Holdings (NASDAQ: HRAY)

SmallCapNewsRelease decliners are Marshall Edwards (NASDAQ: MSHL) DayStar Technologies Inc (NASDAQ: DSTID) Community Central Bank Corp (NASDAQ: CCBD) General Finance Corp (NASDAQ: GFNCU) Northern States Financial (NASDAQ: NSFC) WSB Holdings (NASDAQ: WSB) Tenet Healthcare Corp (NYSE: THC) Magyar Bancorp (NASDAQ: MGYR)

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