US ENERGY CORP — Director's Dealing 2007

Mar 27, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US ENERGY CORP (USEG)
CIK: 0000101594
Period of Report: 2007-03-27

Reporting Person: ANDERSON MICHAEL THOMAS (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-27	U.S. Energy Common Stock	J	953	$4.72	Acquired	4143	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
Director/ Option(RTB)	$2.46	2014-06-30	U.S. Energy Common Stock (50000)	50000	Direct

Footnotes

F1: Shares issued as payment for services as a non-employee Director for calandar year 2006.

F2: Includes shares given to the Reporting Person as payment as a Non-Employee Director.

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