The Board of Directors of HKN, Inc. (AMEX:HKN) authorized a share repurchase program on January 5, 2009. Under the program, HKN will repurchase up to 1,000,000 shares. All repurchases will be made from time to time in the open market or through privately negotiated transactions when opportunities to do so at favorable prices present themselves in compliance with all applicable laws and regulations including the Securities and Exchange Commission rules.

On April 24, 2012, the Board of Directors increased the share repurchase program by 1,000,000 shares, thereby bringing the total authorization to 2,000,000 shares.

On October 29, 2012, the shareholders of the company approved one-for-forty reverse stock split on retrospective basis, thereby reducing the repurchase program to 50,000 shares. Till September 30, 2012, the company has repurchased 26,228 shares in open market transactions for $2.74 million and 20,825 shares in privately negotiated transactions for $2.5 million.

HKN, Inc.'s share repurchase program expired on January 22, 2013.