RELEASE: January 22, 2013
HKN Announces 45 Thousand Share Stock Repurchase Plan
Texas – January 22, 2013 – HKN, Inc.
(OTCQB: HKNI) (“HKN” or “the Company”) announced that the Company’s Board of
Directors has authorized the cancellation of its existing stock repurchase
program which was originally announced in September 2005. The Company’s Board
of Directors has also authorized a new stock repurchase program which will allow
the Company to buy back up to forty-five thousand shares of its common
stock. All repurchases will be made from
time to time when opportunities to do so at favorable prices present themselves
in compliance with all applicable laws and regulations including the Securities
and Exchange Commission rules.
Inc. is an independent energy company engaged in the development of a
well-balanced portfolio of assets in the energy industry and in the active
management of its energy-based investments. Additional information may be found
at the HKN Web site, www.hkninc.com.
Please e-mail all investor inquiries to Investorrelations@hkninc.com.
Certain statements in
this announcement and inferences derived therefrom may be regarded as
“forward-looking statements” within the meaning of the Securities Exchange Act
of 1934, as amended. These forward-looking statements are based on the opinions
and estimates of management at the time the statements are made. Management’s current view and plans,
however, are subject to numerous known and unknown risks, uncertainties and
other factors that may cause the actual results, performance, timing or achievements
of HKN to be materially different from any results, performance, timing or
achievements expressed or implied by such forward-looking statements. The various uncertainties, variables, and
other risks include those discussed in detail in the Company’s SEC filings,
including the Annual Report on Form 10-K filed on March 2, 2012. HKN undertakes
no duty to update or revise any forward-looking statements. Actual results may vary materially.