USEG Reports Q410 Results; Drilling Programs Expand

MARCO RODRIGUEZ, Stonegate Securities, Inc. (03/22/2011)
"Reserves increased in 2010 and are expected to continue to grow; more importantly, U.S. Energy increased its proved reserves from 1.09M in 2009 to 1.95M in 2010 for an 80% YOY increase. The company also increased production from 164,397 boe in 2009 to 448,855 boe in 2010 for a 173% YOY increase. . .reserves should continue their growth as the company plans to drill ~40 gross, or ~13 net, wells in 2011."

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