Aurora Oil & Gas Limited
(ASX:AUT) has made an unconditional takeover offer for Eureka Energy Limited
(ASX:EKA).
The oil and gas explorer has offered Eureka shareholders $0.45 per share which will value Eureka at about $107 million.
Aurora’s chief says, the transaction builds the company’s already strong presence in the Sugarkane field and would also grow its Eagle Ford portfolio.
Separately, Aurora posted an overall increase in its quarterly production figures.
In the first half of the 2012 financial year, Aurora Oil & Gas generated a net profit of $30.1million.
