/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
TORONTO, May 12 /CNW/ - Aurora Oil & Gas Limited ("Aurora") is pleased
to provide the following update on operations and production at the
Longhorn, Ipanema and Excelsior Areas of Mutual Interest ("AMI") within
the Sugarkane Gas & Condensate Field, Texas.
Across Aurora's gross acreage position of 74,800 acres there are
presently 4 drilling rigs and 2 full time fracture stimulation crews
operating, with a temporary 3rd stimulation crew carrying out 'HiWay' stimulations on 4 wells. The
operator is ahead of target to complete the planned 60 well drilling
program in 2011.
The Foster #1H well has now been on production for a period of 30 days
with results as outlined below:-
*The equivalent barrels per day production rate has been calculated on a
simple 6:1 ratio in compliance with Canadian securities laws under
National Instrument 51 - 101.
There are a number of wells that commenced production since the last ASX
update within the Longhorn, Ipanema and Excelsior AMIs and Aurora will
provide 30 day and 60 day average production rates for those wells when
Yosko #1H (29.6% WI)
The Yosko #1H well has been fracture stimulated and was placed on
production on 11/04/11.
Carter #1H (31.9% WI)
The Carter #1H well has been fracture stimulated and was placed on
production on 17/04/11.
Carter Salge #1H (31.9% WI)
The Carter Salge #1H well has been fracture stimulated and was placed on
production on 01/05/11.
Davenport #1H (24.31% WI)
The Davenport #1H well location lies across the Longhorn and Sugarloaf
AMI boundaries and as such Aurora holds a 24.31% working interest in
the well. The well reached a total depth of 18,220ft on 23/04/11.
Production casing has been run and cemented in place and the well will
be fracture stimulated shortly.
Turnbull #6H (26.39% WI)
The Turnbull #6H well sits partially within the Sugarloaf AMI and hence
Aurora holds a blended working interest of 26.39% in this well. The
well was spudded 30/04/11 and is presently at a depth of approximately
Best Huth #1H (28.73% WI)
The Best Huth #1H well sits partially within the Sugarloaf AMI and hence
Aurora holds a blended working interest of 28.73% in this well. The
well spudded on 02/05/11 and is presently drilling out of the surface
PMT #1H (28.7% WI)
This PMT well location lies across the Ipanema and Sugarloaf AMI areas.
As such Aurora holds a blended working interest of 28.7% in this well.
This well has been fracture stimulated and for operational reasons
production tubing was run. The well is now unloading and is cleaning
up to flare.
Chapman Pfeil #1H (9.1% WI)
The Chapman Pfeil #1H well has been fracture stimulated and will shortly
be unloaded to sales.
Chapman Rothe #1H (9.1% WI)
The Chapel Rothe #1H well is being fracture stimulated and will shortly
be unloaded to sales.
Henke A #1H (9.1% WI)
The Henke A #1H well has been fracture stimulated, the operations are
presently completing and the well will then be unloaded to sales.
Hierholzer Seewald #1H (9.1% WI)
The Hierholzer Seewald #1H well is being fracture stimulated and will
shortly be unloaded to sales.
Henke B #1H (9.1% WI)
The Henke B #1H well reached a total depth of 15,635 ft on the 12/04/11
and casing has been run and cemented. The well has been fracture
stimulated and will shortly be unloaded to sales.
Hierholzer Retzloff #1H (9.1% WI)
The Hierholzer Retzloff #1H well has been drilled and cased at a total
depth of 15,450 ft. The well will be fracture stimulated in due
Esse Smith Ranch A #1H (9.1% WI)
The Esse Smith Ranch A #1H well is presently being drilled having been
spudded on the 18/04/11.
Excelsior Production Facilities
Good progress is being made on the installation of the first centralized
processing facility in the field. This facility is located in the
Excelsior AMI and will lead to significant savings in well costs and
reductions in operating costs. Other similar installations will be
installed in due course across Aurora's four Sugarkane AMIs.
Aurora is an Australian and Toronto listed oil and gas company active
exclusively in the over pressured liquids rich region of the Eagle Ford
Shale in Texas, United States. The Company 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 over 74,800 highly contiguous gross acres in the heart
of the trend, including over 15,760 net acres within the liquids rich
zones of the Eagle Ford. Aurora is funded for and expects to
participate in approximately 60 new development wells during 2011.
Technical information contained in this report in relation to the
Sugarkane field was compiled by Aurora from information provided by the
project operator and reviewed by I L Lusted, BSc (Hons), SPE, a
Director of Aurora who has had more than 15 years experience in the
practice of petroleum engineering. Mr. Lusted consents to the inclusion
in this report of the information in the form and context in which it
The Company may present petroleum and natural gas production and reserve
volumes in barrel of oil equivalent ("boe") amounts. For purposes of
computing such units, a conversion rate of 6,000 cubic feet of natural
gas to one barrel of oil equivalent (6:1) is used. The conversion ratio
of 6:1 is based on an energy equivalency conversion method which is
primarily applicable at the burner tip and does not represent value
equivalence at the wellhead. Readers are cautioned that boe figures may
be misleading, particularly if used in isolation.
Statements in this press release regarding which reflect management's
expectations relating to, among other things, target dates, Aurora's expected drilling program and the ability to fund development are forward-looking statements, and can generally be identified by words such as "will", "expects",
"intends", "believes", "estimates", "anticipates" or similar expressions. In addition, any statements that refer to
expectations, projections or other characterizations of future events
or circumstances are forward-looking statements. These statements are
not historical facts but instead represent management's expectations,
estimates and projections regarding future events.
Although management believes the expectations reflected in such
forward-looking statements are reasonable, forward-looking statements
are based on the opinions, assumptions and estimates of management at
the date the statements are made, and are subject to a variety of risks
and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements. In addition, if any of the assumptions or
estimates made by management prove to be incorrect, actual results and
developments are likely to differ, and may differ materially, from
those expressed or implied by the forward-looking statements contained
in this document. Such assumptions include, but are not limited to,
general economic, market and business conditions and corporate
strategy. Accordingly, investors are cautioned not to place undue
reliance on such statements.
All of the forward-looking information in this press release is
expressly qualified by these cautionary statements. Forward-looking
information contained herein is made as of the date of this document
and Aurora disclaims any obligation to update any forward-looking
information, whether as a result of new information, future events or
results or otherwise, except as required by law.
SOURCE Aurora Oil
For further information:
Level 20, 77 St. Georges Terrace Perth, Western Australia 6000
GPO Box 2530 Perth, Western Australia 6001
T+61 8 9440 2626 F +61 8 9440 2699
Einfo@auroraoag.com.au W www.auroraoag.com.au