US ENERGY CORP — Director's Dealing 2007

Nov 28, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US ENERGY CORP (USEG)
CIK: 0000101594
Period of Report: 2007-11-26

Reporting Person: FEINSTEIN MICHAEL H (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-11-26	U.S. Energy Common Stock	J	3944	—	Acquired	6158	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Director Option 6 (Right to Buy)	$3.86	2015-10-13	U.S. Energy Common Stock (25000)	25000	Direct

Footnotes

F1: Shares received pursuant to the merger agreement with Crested Corp. on an exchange ratio of 1 share of issuer common stock for 2 shares of Crested Corp. See Form S-4 filed with the Securities and Exchange Commission.

F2: Includes 6,158 shares directly owned by the reporting persons.

F3: Options issued to Reporting Person as a member of the Issuer's Board of Directors.