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US Energy Out of NASDAQ Compliance with Late Quarterly Filing

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U.S. Energy Corp. was notified that it is not in compliance with NASDAQ listing requirements due to the delay in filing its Quarterly Report.

Previously, NASDAQ had granted the Company an exception until September 16, 2019 to file its delinquent Annual Report on Form 10-K for the year ended December 31, 2018 and until October 14, 2019 to file its delinquent Quarterly Reports on Form 10-Q for the periods ended March 31, 2019 and June 30, 2019, subject to the Company submitting to NASDAQ the Company’s plan to regain compliance with NASDAQ’s filing requirements.

The notification from NASDAQ notes that U.S. Energy is required to submit to NASDAQ an update to its plan to regain compliance with filing requirements for continued listing no later than September 3, 2019 for the NASDAQ staff to review.

The Company failed to file its Annual Report on Form 10-K for the year ended December 31, 2018 and its Quarterly Reports on Form 10-Q for the periods ended March 31, 2019 and June 30, 2019 with the Securities and Exchange Commission within the prescribed time period because of the ongoing litigation as described in the previously filed Form 12b-25 and the Company’s Forms 8-K, filed February 26, 2019, March 27, 2019, April 17, 2019, May 20, 2019, May 24, 2019, June 4, 2019 and August 9, 2019.

U.S. Energy is working to complete the Annual Report on Form 10-K for the year ended December 31, 2018 and its Quarterly Reports on Form 10-Q for the periods ended March 31, 2019 and June 30, 2019 and intends to file the Annual Report no later than September 15, 2019 and the Quarterly Reports no later than October 14, 2019 and continues to diligently work toward regaining compliance with NASDAQ’s listing standards.