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USEG - U.S. Energy soars after Fieldpoint asset deal
U.S. Energy Corp.
U.S. Energy (USEG) +141.1% pre-market after acquiring non-operated producing properties in New Mexico for $500K through Fieldpoint Petroleum's Chapter 7 bankruptcy process.The properties have 237K boe total estimated proved reserves (63% oil), all of which are proved developed producing reserves, with a PV10 value of ~$2.5M.U.S. Energy recently reported a Q2 net loss of $3.7M.