East West Petroleum Corp (TSXV:EW) announces a share repurchase program. Under the bid, it will repurchase up to 8,882,872 shares, representing 9.52% of its issued and outstanding common shares. The price at which the company will repurchase its shares will be the market price of the shares at the time of the acquisition.

The shares will be repurchased through the facilities of the TSX Venture Exchange. The common shares repurchased by the company will be returned to treasury for cancellation. Up to 1,864,438 shares of the company is purchasable over any 30-day period within the bid period, being 2% of its issued and outstanding common shares.

The plan is subject to regulatory approval. The progam will continue until the earlier of February 3, 2015 or the date by which all the shares have been acquired. As of January 31, 2014, the company has 93,211,165 common shares issued and outstanding.