Oil Sands Seeks Acquisitions

US Oil Sands Inc. (US Oil Sands) is engaged in the exploration and development of oil sands properties. The Company operates through its subsidiary, US Oil Sands (Utah) Inc. Its segments include Corporate and Utah Oil Sand Development. The Company is a pre-production oil sands company with a land position totaling of approximately 32,010 acres of bitumen extraction rights on leases in the State of Utah. The Company has over two oil sands project areas that include PR Spring Project Area, and Cedar Camp and NW Project Area. The Company's PR Spring Project Area consists of approximately 5,930 contiguous acres of land. The Company's Cedar Camp and NW Project Area hold approximately 26,080 acres of exploration land. All the Company's leases are within the PR Spring Special Tar Sands Area. The Company's leases are located within the Uinta Basin in Northeast Utah, and it is also engaged in conventional oil and natural gas production.