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**Voting        Agreement**

**Between        **

**U.S.        Energy Corp. and Crested Corp.**

**And        Certain Shareholders of Crested Corp.**

*Representations        and Warranties of the Shareholders*

*Authority;        Binding Obligation*

*Ownership        of Shares*
*Provided*

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*No        Conflicts*

*Voting        Agreement and Agreement Not to Transfer*

*Provided*

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*Cooperation*

*Shareholder        Capacity*

*Termination*

*Specific        Performance*

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*Indemnification*

*Miscellaneous*

*Entire        Agreement*

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*Parties        in Interest*

*Modifications;        Waivers*

*Severability*

*Governing        Law*

*Jurisdiction        and Venue*

*Attorney’s        Fees*

*Counterparts*

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*Notices*

*Advice        of Counsel*

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|                                      |                             | Option                  Shares for which   |
|-------------------------------------------|----------------------------------|--------------------------------------------|
| Individual                  Shareholders* | Existing                  Shares | USE                  Shares will be issued |
|                                      |                             |                                       |
| /s/                  Daniel P. Svilar     |                             |                                       |
| Daniel                  P. Svilar         | 156,850                          | 200,000                                    |
|                                      |                             |                                       |
| /s/                  Robert Scott Lorimer |                             |                                       |
| Robert                  Scott Lorimer     | 15,000                           | 200,000                                    |
|                                      |                             |                                       |
| /s/                  Harold F. Herron     |                             |                                       |
| Harold                  F. Herron         | 3,466                            | 200,000                                    |
|                                      |                             |                                       |
| /s/                  Keith G. Larsen      |                             |                                       |
| Keith                  G. Larsen          | 0                                | 200,000                                    |
|                                      |                             |                                       |
| /s/                  Mark J. Larsen       |                             |                                       |
| Mark                  J. Larsen           | 0                                | 200,000                                    |
|                                      |                             |                                       |
| /s/                  Don Anderson         |                             |                                       |
| Don                  Anderson             | 0                                | 30,000                                     |
|                                      |                             |                                       |
| /s/                  Michael Anderson     |                             |                                       |
| Michael                  Anderson         | 0                                | 30,000                                     |
|                                      |                             |                                       |
| /s/                  Michael H. Feinstein |                             |                                       |
| Michael                  H. Feinstein     | 0                                | 30,000                                     |
|                                      |                             |                                       |
| /s/                  H. Russell Fraser    |                             |                                       |
| H.                  Russell Fraser        | 29,500                           | 30,000                                     |
|                                      |                             |                                       |
|                                      |                             |                                       |

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