PERTH, Western Australia, May 13, 2014 /CNW/ - Aurora Oil & Gas Limited
("Aurora") (ASX:AUT, TSX:AEF) welcomes the announcement by Baytex Energy Corp.
that it has increased to AU$4.20 per share the price it is offering to
all Aurora shareholders under the scheme of arrangement under which it
proposes to acquire, through its wholly owned subsidiary Baytex Energy
Australia Pty Ltd, all of the shares in Aurora (the "Scheme").
If the Scheme is implemented, Aurora shareholders will receive AU$4.20
for each Aurora share held on the Record Date (or if the address shown
on the Register is in Canada, the Canadian dollar equivalent determined
in accordance with the process set out in section 3.4(c) of the Scheme
All Aurora directors continue to recommend that, in the absence of a
superior proposal, Aurora shareholders vote in favour of the Scheme.
Each director intends to vote the Aurora shares controlled by them in
favour of the Scheme, in the absence of a superior proposal.
Harbour Advisors (a business unit of CI Investments Inc.) and Stirling
Global Value Fund Inc. (who together have a relevant interest in
approximately 17.4% of Aurora shares) have advised that they intend to
vote in favour of the Scheme in the absence of a superior proposal.
The Scheme Implementation Deed will be amended to reflect the increased
offer price, and Baytex and Baytex Australia will execute a
supplemental deed poll agreeing to provide the increased scheme
Supplementary material for shareholders is being finalised and Aurora
will inform the Court and send the materials to shareholders as soon as
Aurora will seek approval to hold the scheme meeting as currently
convened. Aurora will make a further announcement confirming the Scheme
Please refer to the Baytex announcement which can be found on Sedar at www.sedar.com and the Baytex website at www.baytexenergy.com.
Aurora information line
Shareholders can contact the Aurora information line for further
information relating to the Scheme on 1800 095 654 (within Australia)
or +61 2 8767 1004 (outside Australia) Monday to Friday between 6.30am
and 5.30pm (Perth time).
Aurora is an Australian and Toronto listed oil and gas company active in
the over-pressured liquids rich region of the Eagle Ford shale in
Texas, United States. Aurora is engaged in the development and
production of oil, condensate and natural gas in Karnes, Live Oak and
Atascosa counties in South Texas. Aurora participates in approximately
80,200 highly contiguous gross acres in the heart of the trend,
including approximately 22,200 net acres within the Sugarkane Field in
the over-pressured and liquids core of the Eagle Ford.
SOURCE: Aurora Oil & Gas Limited
For further information:
+61 8 9380 2700
+61 8 9485 8888
Level 1, 338 Barker Road, Subiaco, WA 6008, Australia
PO Box 20, Subiaco, WA 6904
T +61 8 9380 2700, f + 61 8 9380 2799, e firstname.lastname@example.org
Aurora USA Oil & Gas, Inc. a subsidiary of Aurora Oil & Gas Limited
1200 Smith Street, Suite 2300, Houston TX 77002-5500
T + 1 713 402 1920, f + 1 713 357 9674