Three Aurora representatives appointed to Eureka Board
Mr Roger Steinepreis to join as Independent Non Executive Chairman
Second Independent Non Executive director will also be appointed in due
Offer Period extended until 6 July 2012 and is final
Aurora currently holds 68.40% of Eureka
PERTH, Australia, June 19, 2012 /CNW/ - Aurora Oil & Gas Limited (ASX:
AUT) (TSX: AEF) ("Aurora") notes today's announcement from Eureka
Energy Limited (ASX: EKA) ("Eureka").
Aurora is pleased to confirm that three Aurora representatives will join
the Eureka Board, effective from 2:00pm (AEST) today, 20 June 2012. Mr
Roger Steinepreis will also join the Board as Independent Non Executive
Chairman at the same time. Aurora intends to nominate a second
Independent Non Executive director in due course.
Aurora's majority shareholding in Eureka is currently 68.40%, as of
close of trade on 19 June 2012. The appointments to the Eureka Board
are proportional to Aurora's current shareholding in Eureka. The
installation of suitable protocols to ensure the interests of minority
shareholders are protected has commenced, such as today's appointment
of a suitably qualified Independent Non Executive Chairman.
Aurora has also extended the Offer Period until 6 July 2012 to allow
additional time for Eureka shareholders to accept into Aurora's Offer.
The closing date is final and the Offer Period will not be extended further.
Aurora Oil & Gas chairman and CEO Mr Jon Stewart commented:
We look forward to working with Eureka's management team to undertake a
review of Eureka, its asset portfolio and its capital structure with a
view to putting the business on the best footing moving forward. Aurora
brings to the Eureka Board the benefit of its extensive expertise in
the management and development of oil & gas assets, as well as the
team's own direct knowledge of the Eagle Ford shale.
Our Offer for Eureka builds on our already strong presence in the
Sugarkane Field where we are Marathon's largest partner and is
consistent with Aurora's stated growth strategy.
Ian McCubbing, Mark Wilson and Bill Bloking have resigned from the
Eureka Board effective from 10:00am (EST) on 20 June 2012. Messrs
McCubbing, Wilson and Bloking continue to recommend that Eureka
shareholders accept the Offer and have accepted or intend to accept
into Aurora's Offer in respect of their Eureka shares.
If shareholders have any questions in relation to the Offer please call
the Offer Information Line on 1800 821 492 (toll-free for calls made
within Australia) or +61 2 8256 3384 (for calls made from outside
Australia) from Monday to Friday between 9:00am and 5:00pm (AEST time).
Please note that calls to these numbers may be recorded.
For further information on the appointments to the Eureka Board:
Mr Jonathan (Jon) Stewart
Mr Stewart has held a number of executive management positions in listed
and unlisted companies in Australia, Canada, the United Kingdom, Russia
and Azerbaijan. Those companies had operations in Australia, Europe,
North America, Asia and the Former Soviet Union. In that time he was
involved in taking a number of companies public on the stock exchanges
of Australia, the United Kingdom and Canada. He has considerable
experience in the structuring and financing of transactions and the
broader strategic development of companies. Mr. Stewart has been the
Chief Executive Officer and director of Aurora for the last 6 years. Mr
Stewart is a qualified chartered accountant.
Mr Graham Dowland
Mr Dowland is a qualified Chartered Accountant. He has been involved as
a director or senior consultant/advisor with a number of public
companies listed on stock exchanges in Australia, Canada and the United
Kingdom with operations nationally and internationally. Mr Dowland has
considerable corporate finance experience, particularly in the oil and
gas industry, having been a director or advisor to companies that have
had operations in the United Kingdom, Russia, Azerbaijan, Indonesia,
Australia and New Zealand.
Mr Dowland is also the non-executive Chairman of Imugene Limited, a
company listed on the ASX which specialises in the development of
animal health products.
Mr Ian Lusted
Mr Lusted holds a B.Sc (Hons.) from York University in the United
Kingdom and is a member of the Society of Petroleum Engineers. He has
extensive international oil & gas experience, having begun his career
in the industry in 1991 with Shell International after serving for
several years as an officer in the Royal Navy.
In 1998 Mr Lusted established Leading Edge Advantage ("LEA"), an
advanced drilling project management consultancy based in Aberdeen and
subsequently in Perth, Australia.
In mid 2005, Mr Lusted assumed the Technical Director position for Cape
Energy, a private oil and gas company. The company held acreage in
Australia and the Philippines where Cape Energy was a key participant
in moving the Galoc field to development status. Mr Lusted acted in
this capacity until December 2007 when he was appointed as the
Technical Manager of Aurora..
Mr Roger Steinepreis
Mr Steinepreis graduated from the University of Western Australia where
he completed his law degree. He was admitted as a barrister and
solicitor of the Supreme Court of Western Australia in 1987 and has
been practicing as a lawyer for over 20 years.
Mr Steinepreis is the legal advisor to a number of public companies on a
wide range of corporate related matters. His areas of practice focus
on company restructures, initial public offerings and takeovers. He is
a Director of Adavale Resources Limited, Apollo Consolidated Limited,
Firestrike Resources Limited, Avonlea Minerals Limited and Imugene
Aurora Oil & Gas Limited
ACN 008 787 988
Notice of Final Extension of Offer Period
Eureka Energy Limited ACN 116 829 139 ("Eureka Energy")
Australian Securities and Investments Commission
Aurora Oil & Gas Limited ACN 008 787 988 ("Aurora") has made on-market
takeover offer to acquire all of the fully paid ordinary shares in the
capital of Eureka Energy pursuant to a bidder's statement dated 30
April 2012 ("Bidder's Statement").
Aurora gives notice under section 649C of the Corporations Act 2001
(Cth) ("Corporations Act") that the Offer Period is extended so that
the Offer Period is now scheduled to close at 4:00pm (AEST) on 6 July
Aurora has determined it will not further extend the Offer Period.
Unless the context requires otherwise, defined terms in this notice have
the same meaning as in the Bidder's Statement.
This notice is dated 20 June 2012.
Signed by IAN LUSTED as a director
of Aurora Oil & Gas Limited
SOURCE Aurora Oil
For further information:
FTI Consulting (Perth)
08 9386 1233
0404 094 384
FTI Consulting (Sydney)
02 8298 6100
0416 041 768