Aurora Oil & Gas Corp.

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Sellers
Marketers
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Description

Aurora Oil & Gas Corp., Traverse City, Mich., (Amex: AOG) has retained Johnson Rice & Co. LLC to investigate strategic alternatives including possible asset divestitures. Aurora is an E&P company focused on unconventional gas with operations in the Michigan Antrim shale, Indiana New Albany shale and the Oklahoma Woodford shale. Strategic alternatives may also include operating partnerships, identifying additional capital resources, or a merger or other business combination. Proved developed reserves as of end-ofyear 2006 are approximately 54,000 barrels of oil and 82.6 billion cubic feet of gas. It owns working interests in 495 Antrim wells and 34 New Albany shale wells. Aurora chairman and chief executive William W. Deneau says, "With the recent announcement of our Woodford shale acreage and our continuing activities in the Antrim shale and New Albany shale, it is obvious that the company has more opportunity available than can be developed with available capital. Our primary objective is enhancing shareholder value." Contact Jeffrey W. Deneau, 231-941- 0073.