U.S. Energy acquires helium rights in Montana, signs LOI for larger adjacent acreage from related party

US ENERGY CORP

Acquired 82.5% of Wavetech's farmout rights on Kevin Dome, Montana for $2M cash + 2.6M restricted shares.
Non-binding LOI to buy 24,000 net acres from Synergy Offshore (related party) for $2M cash + 4.85M shares + 6.25M warrants + $12.5M carry.
Synergy acquisition target close Sep 30, 2024, subject to definitive agreements and shareholder approval.
Both properties contiguous on Kevin Dome; focus on helium. Duane King (USEG director) and Chairman Weinzierl control Synergy.
Wavetech retains 17.5% carried interest; Synergy retains 12.5% working interest under the LOI terms.

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