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 CNY 160 million worth of its shares at a price not more than CNY 27.57 per share. The repurchased shares will be used for employee stock ownership plans or equity incentives.

The company will use its own funds to repurchase its shares. The repurchase program will be valid for a period of 6 months.