Company Overview
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 29 gross (6.5 net) wells.
— As at year end, 2011 - 71 gross wells on production, 4 wells on production testing, 8 wells waiting on or being stimulated and 6 wells being drilled
— During Q1 2012 29 gross wells were spudded and 19 gross wells were put on production
— Aurora production to increase to a run-rate of ~18,000 boe/d pre-royalties by year-end 2012E (~14,000 boe/d post-royalties
~450% increase in certified 1P and ~209% increase in certified 2P reserves during 2011 and expected to increase further through continued drilling and maturing of the asset.
— 1P reserves of ~80 mmboe pre-royalties (~59 mmboe post-royalties), 76% liquids
— 2P reserves of ~92 mmboe pre-royalties (~67 mmboe post-royalties), 76% liquids
Sugarkane Field offers scalable, low risk, profitable growth.
— 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.
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