Aurora Closes Secondary Offering

Aurora Oil & Gas Corporation on Wednesday announced the closing of a public offering of 24 million registered shares of its common stock, including 8 million shares offered by a selling shareholder, at a price to the public of $3.00 per share.

Net proceeds to the Company from the offering are approximately $44.5 million, which the Company expects to use to fund exploration and development activities and for other general corporate purposes including acquisitions. Pending such use, the net proceeds will be used to repay amounts outstanding under its senior secured credit facility.

Johnson Rice & Company, LLC acted as the sole book-running manager and KeyBanc Capital Markets, a division of McDonald Investments Inc., and Morgan Keegan & Company, Inc. acted as co-managers in this offering. The Company has granted the underwriters a 30-day option to purchase up to 3,600,000 additional shares at a price of $3.00 per share, less underwriting discounts of $0.18 per share, to cover any over-allotments. No portion of the over-allotment option has been exercised to date.

Copies of the final prospectus relating to the offering may be obtained by contacting:

    Johnson Rice & Company, LLC
    639 Loyola Avenue, Suite 2775
    New Orleans, LA  70113

Aurora Oil & Gas Corporation is an independent energy company focused on unconventional natural gas exploration, acquisition, development and production with its main operations in the Michigan Antrim Shale and New Albany Shale of Indiana and western Kentucky.


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