USEG: Bakken Development with Oil Exploration Upside

JOEL MUSANTE, C.K. Cooper & Company (03/22/2011)
"The majority of U.S. Energy Corp.'s 82% growth in reserves in 2010 was attributable to Bakken/Three Forks (3F) development on leases operated by Brigham Exploration. . .[it] drilled a successful 3F test and conducted geophysical and production tests that seem to support the notion that four wells could be drilled on a 1,280-acre spacing unit in the Bakken and 3F formations. . .combined, the leases under the two joint ventures provide many attractive potential Bakken/3F drilling locations for USEG."

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