TRAVERSE CITY, Mich., July 26, 2006 (PRIMEZONE) -- Aurora Oil & Gas Corporation (AMEX:AOG) today announced that the Company has completed the sale of its working interests in all producing and non-producing properties within an Area of Mutual Interest located in DeSoto Parish, Louisiana. The interests, ranging from 22.5% to 45%, are being sold for $4.75 million to the operator and majority partner, BEUSA Energy, Inc., effective July 1, 2006.
The sale includes approximately 1,657 net acres with 14 gross wells, 12 of which produce approximately 400 net mcfe of natural gas per day. Total net proven reserves have been estimated at 1.464 bcfe of natural gas.
William W. Deneau, President of Aurora Oil & Gas Corporation commented, "This sale illustrates our desire to concentrate our resources on those areas that provide growth opportunity. The Louisiana property was a Cadence Resources legacy asset and determined to be a non-integral part of the Aurora story."
About Aurora Oil & Gas Corporation:
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 and Indiana and western Kentucky.