Amendment: SEC Form SCHEDULE 13D/A filed by U.S. Energy Corp.

Item 3 of the Original Schedule 13D is hereby amended to add the following paragraph below: On February 14, 2025, the Issuer granted 40,000 shares of Common Stock to Mr. King in consideration for services rendered and agreed to be rendered to the Issuer as a member of the Board of Directors of the Issuer. Such shares of Common Stock are subject to vesting 50% on July, 1, 2025 and 50% on January 1, 2026, subject to King's continued service to the Issuer. On October 28, 2025, Synergy distributed all of the 1,400,000 shares of Common Stock owned by it to SPP, and SPP distributed all of such shares to its members, including 796,761 shares to Katla and 332,329 shares to King Oil.

Item 4 of the Original Schedule 13D is hereby amended to add each of the following paragraphs below: The information set forth in Item 3 is hereby incorporated by reference into this Item 4. On February 14, 2025, the Issuer granted 40,000 shares of Common Stock to Mr. King in consideration for services rendered and agreed to be rendered to the Issuer as a member of the Board of Directors of the Issuer. Such shares of Common Stock are subject to vesting 50% on July, 1, 2025 and 50% on January 1, 2026, subject to King's continued service to the Issuer. On October 28, 2025, Synergy distributed all of the 1,400,000 shares of Common Stock owned by it to SPP, and SPP distributed all of such shares to its members, including 796,761 shares to Katla and 332,329 shares to King Oil.

The information provided in Items 2, 3 and 4 of this Schedule 13D is incorporated by reference herein. Pursuant to the Nominating and Voting Agreement dated January 5, 2022, if Synergy made a distribution to its members, for so long as the shares of Common Stock are held by those members, the Nominating and Voting Agreement requires those members to vote their shares in accordance with the terms and conditions of the Nominating and Voting Agreement. This Nominating and Voting Agreement was amended as of September 16, 2022, in which the former members of Synergy, except for King Oil and Gas, Inc. and Katla Energy Holdings, LLC, are no longer required to vote the Issuer's shares in accordance with the Amended and Restated Nominating and Voting Agreement. As a result, this amendment reduces the number of shares with a "Shared Vote," to reflect that King Oil and Gas, Inc. is bound by the voting provisions of the Amended and Restated Nominating and Voting Agreement. Katla Energy Holdings, LLC ("Katla") shares derived from Synergy are not reported herein either. The Reporting Persons continue to exclude all shares held by the Separately Filing Persons in connection with the numbers of shares reported herein, and the Katla shares of Common Stock derived from Synergy are not reported herein. The percentages of beneficial ownership disclosed in this Schedule 13D are based on an aggregate of 35,634,729 shares of Common Stock outstanding as of October 9, 2025, based on information furnished by the Issuer.

1 Amended and Restated Nominating and Voting Agreement dated September 16, 2022 (filed on September 16, 2022, as Exhibit 10.1 to the Form 8-K filed by U.S. Energy Corp. and incorporated herein by reference). 2 Letter of Intent, dated June 25, 2024, between U.S. Energy Corp. and Synergy Offshore, LLC (filed on June 27, 2027, as Exhibit 8 to the Schedule 13D/A filed by Duane H. King and incorporated herein by reference). 3 Purchase and Sale Agreement, dated January 9, 2025, between U.S. Energy Corp. and Synergy Offshore, LLC (filed on January 10, 2025, as Exhibit 10.1 to the Form 8-K filed by U.S. Energy Corp. and incorporated herein by reference).