US ENERGY CORP — Director's Dealing 2011

Jul 1, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US ENERGY CORP (USEG)
CIK: 0000101594
Period of Report: 2011-06-29

Reporting Person: WINTERS ALLEN SWAIN (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-06-29	Common Stock	P	2300	$4.23	Acquired	4900	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Director/ Option(rtb)	$2.52	2018-09-21	U.S. Energy Common Stock (30000)	30000	Direct

Footnotes

F1: Includes shares held directly by the Reporting Person.

F2: Stock options granted under the Issuer's 2008 SOP for the Independent Directors and Advisory Board Members which vest in three (3) equal annual installments beginning one year from the grant date.