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Aurora year end reserves report - effective 31 December 2012

Thursday, Jan 31, 2013

PERTH, Australia, Jan. 31, 2013 /CNW/ - Aurora Oil & Gas Limited ("Aurora") (ASX:AUT, TSX:AEF) is pleased to provide details of the independent reserves estimates for Aurora's working interests in the Sugarkane Field with an effective date of 31 December 2012.  The reserve estimates were prepared by the Houston based team of Ryder Scott Company, L.P. ("Ryder Scott") in accordance with the standards contained in the Canadian Oil and Gas Evaluation Handbook and with the reserve definitions contained in Canadian National Instrument 51 - 101- Standards of Disclosure for Oil & Gas Activities.

Type Curves

In order to generate the reserve estimates for the Sugarkane Field in the RS Report, a complex analysis involving multiple type curves, variations for well length and well spacing were used by Ryder Scott to generate the type curves applied to future well locations within the field development plan.

To provide further detail, Aurora has prepared the following plots and tabulated results to show an average type curve for the gas condensate and high GOR oil windows using the same data and methodology utilized by Ryder Scott in the RS Report, but over a wider area and applied to a normalised 5,000 ft lateral.  As such this internal analysis replicates the historical conservative approach adopted by Ryder Scott for the RS Report.

SOURCE Aurora Oil & Gas Limited

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