Hudson Announces Share Repurchase Program

TORONTO, Dec. 6, 2012 /CNW/ - Hudson Oil Corporation Ltd. (H8D: FSE) today announced that its Board of Directors has authorized a share repurchase program under which the Company may repurchase up to ten per cent (10%) of its outstanding common stock from time to time on the open market and/or in privately negotiated transactions. The timing and amount of any shares repurchased will be determined by the Company's management, based on its evaluation of market conditions and other factors. The repurchase program may be suspended or discontinued at any time.

About Hudson

Hudson is a Canadian company focused on the acquisition of under-valued energy assets and the execution of business strategies to maximize their value. Efforts are presently directed at downstream energy opportunities in Eastern Europe. Currently, the Company's principal asset is the Glimar refinery complex in southern Poland, which is equipped with unique and industry-leading technology.

Forward-looking statements:

Some of the statements contained in this release are forward-looking statements, such as statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect the Company's current judgment regarding the direction of the Company's business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law, Hudson Oil Corporation Ltd. does not intend to update any forward-looking statements to conform these statements to actual results.

SOURCE: Hudson Oil Corporation Ltd.

For further information:

please visit: www.hudsonoil.ca

For investor and media enquiries, please contact:

Paul McIvor
416-906-1276
mcivor@rosettapr.com