<SEC-DOCUMENT>0001615774-17-001361.txt : 20170331
<SEC-HEADER>0001615774-17-001361.hdr.sgml : 20170331
<ACCEPTANCE-DATETIME>20170330183919
ACCESSION NUMBER:		0001615774-17-001361
CONFORMED SUBMISSION TYPE:	NT 10-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20161231
FILED AS OF DATE:		20170331
DATE AS OF CHANGE:		20170330
EFFECTIVENESS DATE:		20170331

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			US ENERGY CORP
		CENTRAL INDEX KEY:			0000101594
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				830205516
		STATE OF INCORPORATION:			WY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NT 10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		17727407

	BUSINESS ADDRESS:	
		STREET 1:		4643 S. ULSTER STREET
		STREET 2:		SUITE 970
		CITY:			DENVER
		STATE:			CO
		ZIP:			80237
		BUSINESS PHONE:		303 993 3200

	MAIL ADDRESS:	
		STREET 1:		4643 S. ULSTER STREET
		STREET 2:		SUITE 970
		CITY:			DENVER
		STATE:			CO
		ZIP:			80237

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WESTERN STATES MINING INC
		DATE OF NAME CHANGE:	19851229
</SEC-HEADER>
<DOCUMENT>
<TYPE>NT 10-K
<SEQUENCE>1
<FILENAME>s105739_nt10k.htm
<DESCRIPTION>NOTIFICATION OF LATE FILING
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center"><B>FORM 12b-25</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 100%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">SEC FILE NUMBER</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>000-6814</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center"><B>NOTIFICATION OF LATE FILING</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>(Check
One): </I></FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I>
Form 10-K </FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744; </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Form
20-F </FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">Form
11-K </FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">Form
10-Q </FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">Form
10-D </FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">Form
N-SAR </FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">Form
N-CSR</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt; text-indent: -20pt">For Period Ended: <U>December 31,
2016</U></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 67.5pt; text-indent: -20pt"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Transition Report on Form 10-K</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 67.5pt; text-indent: -20pt"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Transition Report on Form 20-F</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 67.5pt; text-indent: -20pt"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif">Transition Report on Form 11-K</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 67.5pt; text-indent: -20pt"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Transition Report on Form 10-Q</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 67.5pt; text-indent: -20pt"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Transition Report on Form N-SAR</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt; text-indent: -20pt">For the Transition Period Ended:
___________________</P>

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    <TD STYLE="width: 100%; padding-right: 0.75pt; padding-left: 0.75pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">______________________________________________________________________________</P>

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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>PART I -- REGISTRANT INFORMATION</B></P></TD></TR>
<TR>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>U.S. Energy Corp. </U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Full Name of Registrant</P></TD></TR>
<TR>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 1.25in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Former Name if Applicable</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>4643 S. Ulster Street, Suite 970 </U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Address of Principal Executive Office <I>(Street and Number)</I></P></TD></TR>
<TR>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Denver, Colorado 80237 </U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">City, State and Zip Code</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0"><B>PART II -- RULES 12b-25(b) AND (c)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">If the subject report could not be filed
without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed.
(Check box if appropriate)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"></P>

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<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 4%; border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: center">(a)</TD>
    <TD STYLE="width: 92%">The reason described in reasonable detail in Part III of this form could not be eliminated
without unreasonable effort or expense;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-right: Black 1pt solid">&#9746;</TD>
    <TD STYLE="text-align: center">(b)</TD>
    <TD>The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or
Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or
the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion
thereof, will be filed on or before the fifth calendar day following the prescribed due date; and</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center">(c)</TD>
    <TD>The accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt"><B>PART III -- NARRATIVE </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify">State below in reasonable detail the
reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report portion thereof, could not be filed within
the prescribed time period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Registrant is unable to file its Annual
Report on Form 10-K for the fiscal year ended December 31, 2016, within the prescribed time period because the Registrant has not
been able to obtain and assimilate all information required to complete its accounting and audit for the year. Accordingly, the
Registrant has not been able to complete its financial statements and other required disclosures to its Form 10-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt"><B>PART IV-- OTHER INFORMATION</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name and telephone number of person to contact in regard to this notification</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2pt; padding-left: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David A. Veltri</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2pt; padding-left: 29.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">303</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2pt; padding-left: 38.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">993-3200</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2pt; padding-left: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name)</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2pt; padding-left: 11.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Area Code)</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2pt; padding-left: 16pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Telephone Number)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2pt; padding-left: 2pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2pt; padding-left: 2pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 2pt; padding-left: 2pt; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 21%">&nbsp;</TD>
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 48%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)
Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the
Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file
such report(s) been filed? If answer is no, identify report(s).</FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Yes </FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">No</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3)
Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will
be reflected by the earnings statements to be included in the subject report or portion thereof? </FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif">Yes</FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif">No</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Registrant expects to report revenues for
the year ended December 31, 2016 of approximately $5.7 million as compared to $10.2 million for the year ended December 31, 2015.
The Registrant expects to report an operating income loss for the year ended December 31, 2016 of approximately $11.9 million as
compared to $67.2 million for the year ended December 31, 2015 and a net loss of approximately $14.3 million for the year ended
December 31, 2016 as compared to a net loss of $92.8 million for the year ended December 31, 2015. The primary reasons for the
significant changes in revenue, operating income and net loss relates to, among other factors; (i) a greater than 42% reduction
in the Company&rsquo;s oil production, a 13% decrease in gas production and a 13% reduction in the realized price for oil which
resulted in lower revenues and impairment charges for the Company&rsquo;s oil and gas properties of approximately $9.5 million;
(ii) a significant reduction in the Company&rsquo;s operations and a reduction in oil and gas production costs of $4.6 million
from December 31, 2015 to December 31, 2016; and (iii) discontinued operations from the disposition of our mining properties in
February 2016 which resulted in impairment charges of $0.4 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The foregoing statements are based on the Company&rsquo;s
current expectations as of the date of this filing and involve a number of risks and uncertainties, which may cause actual results
to differ. The risks include, but are not limited to, unexpected changes arising during the annual audit procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: center"><U>U.S. Energy Corp.</U><BR>
(Name of Registrant as Specified in Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0">has caused this notification to be signed on its behalf by the
undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: </FONT></TD>
    <TD STYLE="width: 30%; border-bottom: black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 30, 2017</FONT></TD>
    <TD STYLE="width: 5%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 5%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 55%; border-bottom: black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ David A. Veltri</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David A. Veltri</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer, President and Director </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0"></P>

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