U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                                                 SEC File Number
                                   FORM  12B-25                       0-6814
                                                                   CUSIP Number
                         NOTIFICATION  OF  LATE  FILING             911805 10 9
                                  (Check One):

            [ ] Form 10-K and Form 10-KSB [ ]Form 20-F [ ] Form 11-K
                      [X]Form 10-Q and 10-QSB [ ]Form N-SAR

     For  Period  Ended:   June  30,  2003
     [  ]  Transition  Report  on  Form  10-K
     [  ]  Transition  Report  on  Form  20-F
     [  ]  Transition  Report  on  Form  11-K
     [  ]  Transition  Report  on  Form  10-Q
     [  ]  Transition  Report  on  Form  N-SAR
     For  the  Transition  Period  Ended:

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     Read  Attached  Instruction  Sheet  Before  Preparing Form. Please Print or
Type.  Nothing  in this form shall be construed to imply that the Commission has
verified  any  information  contained  herein.
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If  the  notification relates to a portion of the filing checked above, identify
the  Items(s)  to  which  the  notification  relates.
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PART  I  -  REGISTRANT  INFORMATION

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Full  name  of  Registrant:     U.S.  ENERGY  CORP.

Former  Name  if  Applicable:   N/A

Address  of  Principal  Executive  Office  (Street  and  Number):

                                877  NORTH  8TH  WEST
City,  State  and  Zip  Code:   RIVERTON,  WY  82501



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Part  II  -  Rules  12b-25(b)  and  (c)
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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)

     (a)  The  reasons  described  in reasonable detail in Part III of this form
          could  not  be  eliminated  without  unreasonable  effort  or expense;
     (b)  The  subject  annual  report, semi-annual report, transition report on
  X       Form  10-K,  Form 20-F, 11-K or Form N-SAR, 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 portion thereof will be filed on or before the fifth calendar
          day  following  the  prescribed  due  date;  and
     (c)  The accountant's statement or other exhibit required by Rule 12b-25(c)
          has  been  attached  if  applicable.

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Part  III  -  Narrative
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State  below  in  reasonable detail the reasons why Form 10-K, 20-F, 11-K, 10-Q,
N-SAR or the transition report or portion thereof, could not be filed within the
prescribed  time  period.


     As  of  the date of this Notice, the Registrant has been unable to complete
     the  Form  10-Q  Report  for  the six months ended June 30, 2003 due to the
     following  factors:

     (1) Extensive time has been required of the accounting staff to re-organize
     data  from  the  first  six  months  of  2002 for comparative purposes. The
     Registrant  changed  its  fiscal  year  end from May 31 to December 31 last
     calendar year, but re-organizing the six month comparative data will not be
     completed  until  after  the  Form  10-Q  due  date  of  August  14,  2003.

     (2) The accounting staff has devoted significant time to the details of the
     contract  to  sell  Canyon  Homesteads  (which holds properties in Ticaboo,
     Utah).  Canyon  is  a  subsidiary of Plateau Resources, a subsidiary of the
     Registrant.  The  contract  was  signed  August  1,  2003.

     (3)  The accounting staff has devoted significant time to evaluation of the
     U.  S.  District  Court's  Order regarding the Nukem litigation, and to the
     possible  need  to  prepare  a  motion  for the Court to reconsider certain
     portions  of  its  Order.

     (4)  The  accounting  staff  has  devoted  significant  time  to setting up
     accounting  systems for Pinnacle Gas Resources, Inc., which entity acquired
     assets from Rocky Mountain Gas, Inc., a subsidiary of the Registrant during
     late  June  2003.

     The Registrant will file the Form 10-Q Report for the six months ended June
     30,  2003  on  or  before  August  19,  2003.

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Part  IV  -  Other  Information
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     (1)  Name  and  telephone  number  of  person  to contact in regard to this
notification.

                STEPHEN E. ROUNDS, Special Counsel (303) 377-6997

     (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 the answer is no,
identify  reports(s).
                                                                  [ X ]Yes [ ]No

     (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?
                                                                  [ X ]Yes [ ]No

     If  so:  attach  an explanation of the anticipated change, both narratively
and  quantitatively,  and,  if  appropriate,  state the reasons why a reasonable
estimate  of  the  results  cannot  be  made.

     The  Registrant recorded a loss of $1,922,900 for the six months ended June
30,  2003,  compared  to  a loss of $2,524,800 for the six months ended June 30,
2002.  The  principal  reason  for  the  decrease  of  $601,900 in the loss from
operations  was  the  recognition of the cumulative effect of $1,615,600 from an
accounting  change  as  the  Company adopted SFAS No. 143, "Accounting for Asset
Retirement Obligation" effective January 1, 2003. This reduction in the loss was
partially offset by increased fees associated with the formation of Pinnacle Gas
Resources, Inc. and the payments of fees for the accounting performed in the SMP
litigation.


                                U.S. ENERGY CORP.
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                  (Name of Registrant as specified in charter)

has  caused  this  notification  to  be  signed on its behalf by the undersigned
thereunto  duly  authorized.


Date:     August  14,  2003               By:  /s/  Robert  Scott  Lorimer
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                                               ROBERT  SCOTT  LORIMER,
                                               Chief Financial Officer/Treasurer