Aurora Oil & Gas Limited - Jefferies

Overview of Aurora Oil & Gas
Perth, Australia headquartered E&P company – CEO,
COO and most operational staff based in Houston, Texas
Founded in 2005 - listed on both the ASX and TSX (now
in the ASX 100 index)
− Stock symbols – AUT.AU and AEF.TO
Eagle Ford Shale - Sugarkane field operated by
Marathon Oil Company
• First mover status on highly contiguous ~77,000
gross and 19,300 net acres in the Sugarkane field,
Karnes County, TX.
• Significant inventory of PUD well locations based on
80 acre spacing with 40 net producing wells by end
Q3 2012
• Downspacing pilot program underway to investigate
40 and 60 acre spacing within Eagle Ford and
additional horizons.
Financially conservative
− Sept 30 - $143MM Cash with $173MM pro-forma
liquidity - including $150MM undrawn revolver
− Q3 2012 revenue $85 MM, EBITDAX $50MM (1) .
Key Metrics
Market Cap
$1.6 Billion
Fully Paid Ordinary Shares
448 Million
Enterprise Value
$1.9 Billion
Net Proved Reserves (PDP & PUD)
59 MMBOE
2012 Exit Rate (net after Royalty) 13,450 BOEPD
Directors own approx. 7% of the outstanding shares
(1) EBITDAX is a supplemental measure of financial performance that is not required by, or presented in accordance with IFRS and is considered a non-GAAP measure. See “Non-GAAP
Financial Measures” above. A reconciliation of net earnings after tax to EBITDAX can be found on page 25.
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