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
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.
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
SOURCE: Hudson Oil Corporation Ltd.
For further information:
please visit: www.hudsonoil.ca
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