U.S. Energy repays all debt, begins Kevin Dome helium development

US ENERGY CORP

Repaid entire outstanding credit facility balance; now debt-free with $20M undrawn borrowing base.
Commenced initial development program at Kevin Dome in Montana targeting helium and industrial gases.
Third-party resource report shows mid-point 23.7 BCF contingent helium resource; 13.3 BCF prospective.
Legacy proved reserves of 3.5 Mmboe (62% oil) with PV-10 of $50.9M (mid-2024 SEC prices).
Repurchased 799,500 shares (~3% of outstanding) at $0.9M; $22M available liquidity.

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