Sylios Corp. (fka UNGS)

[Splash59]

COMPANY SHARE REPURCHASE PLAN. I think that is happening right now before our eyes.

ST. PETERSBURG, Fla., Jan. 25, 2012 /PRNewswire/ -- US Natural Gas Corp (OTCBB:UNGS), an energy exploration company with operations in the Appalachian Basin announced today that its Board of Directors has approved an extension to the previously announced share repurchase plan and has simultaneously approved a new $400,000 repurchase plan.

The Board has approved an extension through the end of the fiscal second quarter to complete the previously announced share repurchase plan. 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. Under terms of the new plan, the Company is authorized to repurchase up to $400,000 of its common stock over the next 24 months. The aggregate of the repurchase plans will grant the Company an opportunity to repurchase up to $650,000 of its common stock.