Epsilon Energy approves $15M share repurchase program

Epsilon Energy (EPSN) announced that its board of directors approved a new one-year share repurchase program, under which the company is authorized to repurchase up to 3,014,986 common shares, representing 10% of the current outstanding common shares of Epsilon, for an aggregate purchase price of not more than $15M. The company believes that the market price of its common shares may not reflect their underlying value and the board of directors has authorized this initiative because, in the board’s opinion, the proposed repurchase of common shares constitutes an appropriate use of Epsilon’s funds, and the repurchase of its common shares is one way of creating shareholder value.