U.S. Energy (USEG) Form 3 US ENERGY / Patrick E. Duke ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Duke Patrick E.

(Last) (First) (Middle)

2808 FLINTROCK TRACE SUITE 373

(Street)

AUSTIN TX 78738

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
12/27/2017

3. Issuer Name and Ticker or Trading Symbol
US ENERGY CORP [ USEG ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	5,819,270	I	See Footnote(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. APEG Energy II, LP ("APEG LP") directly owns 5,819,270 shares of Common Stock (the "Shares"), of U.S. Energy Corp. APEG Energy II GP, LLC ("APEG GP") as general partner of APEG LP may be deemed beneficial owner of 5,819,270 Shares owned by APEG LP. Angelus Capital, LLC ("Angelus") as sole member of APEG GP may be deemed to beneficially own 5,819,270 Shares beneficially owned by APEG GP. Angelus Private Equity Group, LLC ("Angelus Group") as sole member of Angelus may be deemed to beneficially own 5,819,270 Shares beneficially owned by Angelus Capital. Duke Capital Services, LLC ("Duke") as a managing member of Angelus Group may be deemed to beneficially own 5,819,270 Shares beneficially owned by Angelus Group. Patrick E. Duke (the "Reporting Person") as sole member of Duke may be deemed to beneficially own 5,819,270 Shares beneficially owned by Duke. Reporting Person disclaims beneficial ownership of securities reported herein except to the extent of his pecuniary interest therein.

Remarks:

This Form 3 is being filed in connection with the exchange of loans held by APEG II LP and made to U.S. Energy Corp. for 5,819,270 Shares of U.S. Energy Corp.

	/s/ Patrick E. Duke	04/24/2019
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
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