The Board of Directors of US Natural Gas Corp (OTCBB:UNGS) authorized a share repurchase program on January 25, 2011. Under the program, the company will repurchase up to $0.40 million worth of common stock. Acquisitions of stock under the repurchase plans will be made from time to time at prices prevailing in the open market or in privately negotiated transactions as permitted by securities laws and other legal requirements, and subject to market conditions and other factors. The repurchase plans will be funded by the company's available cash and may be commenced or suspended at any time or from time to time. The company has been limited by the current share price and volume as to the number of shares it is allowed to purchase in the open market. The authority is valid for a period of 24 months.