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Aurora Oil & Gas Ltd, Investor Presentation - 2 May 2012

Introduction

Aurora, founded in 2005, is a Perth, Australia based exploration and production company with its operational office in Houston, Texas

The Company is listed on both the ASX and the TSX
— Solely focused on the liquids rich region of the Eagle Ford Shale in Texas
— Key asset is approx. 16,350 net acres in the Sugarkane field

Active drilling program for 2012 under way with Q2 plan to spud 37 gross (7.1 net) wells as part of an annual program of in excess of 150 gross (35 net) wells.

- During Q1 2012 29 gross wells were spudded and 19 gross wells were put on production for a total of 90 producing wells at the end of Q1 2012
— Q1 revenue from oil & gas sales of $40 million (97% liquids)
— Aurora production estimated to increase in an accelerating fashion through 2012 to a run-rate of ~18,000 boe/d pre-royalties by year-end 2012E (~14,000 boe/d post-royalties)

Significant increase in certified 2P reserves during 2011 and expected to increase further.
— 1P reserves of ~80 mmboe pre-royalties (~59 mmboe post-royalties), 76% liquids – 450% increase
— 2P reserves of ~92 mmboe pre-royalties (~67 mmboe post-royalties), 76% liquids – 209% increase

Sugarkane Field offers scalable, low risk, profitable growth with considerable upside to recovery rates
— Uniform, continuous and predictable shale across the play
— Experienced operator in Marathon significantly aligned with Aurora on development

Aurora is fully funded for Sugarkane development plan including further acceleration
— $210 million of cash + additional undrawn debt facilities at 31 March 2012


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