X0508 4 2025-01-09 0000101594 US ENERGY CORP USEG 0001903594 King Duane H 9821 KATY FWY SUITE 805 HOUSTON TX 77024 1 1 1 Member of 10% owner group 0001938274 King Oil & Gas Company, Inc. 9821 KATY FWY SUITE 805 HOUSTON TX 77024 1 Director owned entity 0 Common Stock 148913 D Common Stock 2027399 D Common Stock 2025-01-09 4 A 0 1400000 A 1400000 I By Synergy Offshore Excludes shares of common stock relating to the voting group included under "Remarks". Represents shares of common stock, $0.01 par value per share of the Issuer, held by Mr. Duane H. King. Represents shares of common stock, $0.01 par value per share of the Issuer, held by King Oil & Gas Company, Inc. ("King Oil"), which is 100% owned by Duane K. King. The shares held by King Oil may be deemed to be beneficially owned by Mr. King due to his status as Chief Executive Officer of King Oil. Mr. King disclaims beneficial ownership other than to the extent of his pecuniary interest therein. Represents shares of common stock, $0.01 par value per share of the Issuer, held directly by Synergy Offshore, LLC ("Synergy"). The shares held by Synergy may be deemed to be beneficially owned by Mr. King due to his status as Chief Executive Officer and current sole manager of Synergy. Mr. King and King Oil are also owners of member interests in Synergy Producing Properties, LLC ("SPP"), which is the 100% owner of Synergy. Mr. King and King Oil each may be deemed to beneficially own the shares of common stock owned by Synergy based on certain member rights in SPP. Mr. King and King Oil disclaim beneficial ownership other than to the extent of his pecuniary interest therein. The shares were issued by the Issuer, and acquired by Synergy, as seller, pursuant to a Purchase and Sale Agreement (the "PSA") as partial consideration for the sale of assets by the seller. No fair market value has been determined or allocated at this time to the share consideration or other non-cash consideration issued under the PSA. By virtue of being party to a Nominating and Voting Agreement, dated as of January 5, 2022, as amended and restated September 16, 2023 (the "Voting Agreement"), Mr. King, Synergy and King Oil may be deemed to be a member of a "group" for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended. The reporting persons disclaim beneficial ownership of any securities owned by any of the other signatories to the Voting Agreement (and/or their control persons) and the filing of this Form 4 shall not be deemed an admission, for purposes of Section 16 of the Exchange Act or otherwise, that any of the reporting persons and any other person or persons constitute a "group" for purposes of Section 13(d)(3) of the Exchange Act or Rule 13d-5 thereunder. In addition, none of the reporting persons have any pecuniary interest in any of the securities beneficially owned by any of the other signatories to the Voting Agreement (and/or their control persons). /s/ Duane H. King 2025-01-13 /s/ Duane H. King, Chief Executive Officer of King Oil and Gas Company, Inc. 2025-01-13 /s/ Duane H. King, Chief Executive Officer of Synergy Offshore, LLC 2025-01-13