MNP Petroleum Corporation (OTCPK:MNAP) announces a share repurchase program. Under the program, the company will repurchase up to 8,296,614 shares, representing 4.81% of its issued and outstanding shares. All purchases of common shares under the bid will be effected on the TSX Venture Exchange or the OTCQB in the United States and, in any event, in accordance with the rules and policies of the TSX Venture Exchange and applicable securities laws.

The bid is subjected to TSX Venture Exchange approval. The company will not repurchase any securities when it is in possession of undisclosed material information or during any 'blackout' periods imposed by its Insider Trading Policy. The reason behind purchasing these shares is that its common shares currently trade in a price range that does not adequately reflect their underlying value, based on its business prospects, assets and financial position.

The program will be valid for 12 months. As of May 13, 2014, the company has 172,592,292 issued and outstanding shares.