Zhongman Petroleum and Natural Gas Group Corp., Ltd. (SHSE:603619) announces a share repurchase program. Under the program, the company is authorized to repurchase up to 3,000,000 shares at a price not more than CNY 30.95 per share. The repurchased shares will be used for employee stock ownership plans or equity incentives.

If the company fails to used the repurchased shares for the said purpose within 36 months of completion of program, the unused shares will be written off in accordance with the law. The company will use its own funds to repurchase its shares. The repurchase program will be valid for a period of 60 days.