Overview
- High growth oil and gas producer with significant onshore acreage in the core of the Eagle Ford Shale, Texas – one of the world’s premier shale regions.
- Aurora (ASX:AUT) is part of the S&P/ASX200 Index and listed in Canada (TSX: AEF).
- Strong balance sheet with cash reserves and undrawn, credit approved, $300m reserves based syndicated revolving facility with signed term sheet, initial drawdown capacity of $85m growing with increases in proved reserves.
- 79% of current production and over 90% of forecast revenue is from liquids.
- 2011 – 69 new gross wells spudded for total of 89 (16 net) – funded.
- 2012 – 123 new gross wells to be spudded (33 net) – funding arranged.
- Conversion of majority 3P to 2P reserves anticipated to occur within the current year.
- Current net production approx. 3,140 boepd post royalties.
- Estimated exit production 2012 approx. 14,000 boepd post royalties (18,900 boepd pre royalties).
- Sugarkane field offers scalable, low risk, profitable growth.
To view full Update please download PDF below:
