Kina Petroleum Corporation (ASX:KPE) announces a share repurchase program. Under the program, the company will repurchase up to 12,800,000 shares for AUD 12.8 million worth of its common stock. The shares will be repurchased at a price of AUD 0.10 per share. The company is funding the share buyback from its existing buyback cash reserve. The purpose of the buyback is allow shareholders to realize some or all of their investment in the company using the company's available cash resources. The company has fixed January 7, 2021 as the record date of the offer. The program is subject to shareholder approval at the General Meeting to be held on December 31, 2020. The offer will expire on February 2, 2021.