Aurora Oil & Gas Limited - Amendment to scheme implementation deed and deed poll

PERTH, Western Australia, May 14, 2014 /CNW/ - Further to Aurora Oil & Gas Limited's ("Aurora") (ASX:AUT) (TSX:AEF) announcement on 13 May 2014 that Baytex Energy Corp. ("Baytex") has increased to AU$4.20 per share the price it is offering to all Aurora shareholders under the scheme of arrangement under which it proposes to acquire, through its wholly owned subsidiary Baytex Energy Australia Pty Ltd ("Baytex Australia"), all of the shares in Aurora (the "Scheme"), Aurora is pleased to announce that:

• it has entered into a deed of variation with Baytex and Baytex Australia to amend the Scheme Implementation Deed dated 6 February 2014 (as amended) to reflect the higher offer; and
• Baytex and Baytex Australia have executed an amending deed poll to amend the deed poll dated 4 April 2014 agreeing to provide the increased Scheme consideration.

Copies of the deed of variation and amending deed poll will be filed on SEDAR and will be available for review at www.sedar.com and on the Aurora website at www.auroraoag.com.au.

Supplementary material for registered shareholders has been finalised and Aurora will send the materials to shareholders as soon as practical.  The supplementary materials will also be available under Aurora's SEDAR profile at www.sedar.com.

Aurora information line

Shareholders can contact the Aurora information line for further information relating to the Scheme on 1800 095 654 (within Australia) or [phone] (outside Australia) Monday to Friday between 6.30am and 5.30pm (Perth time).

If shareholders have questions regarding the number of shares they hold or how to vote, please contact Aurora's share registry on 1300 455 198 (within Australia) or [phone] (outside Australia) Monday to Friday between 6.30am and 5.00pm (Perth time).

About Aurora

Aurora is an Australian and Toronto listed oil and gas company active in the over-pressured liquids rich region of the Eagle Ford shale in Texas, United States.  Aurora 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 approximately 80,200 highly contiguous gross acres in the heart of the trend, including approximately 22,200 net acres within the Sugarkane Field in the over-pressured and liquids core of the Eagle Ford.

SOURCE: Aurora Oil & Gas Limited

Jon Stewart
Executive Chairman
[phone]

Shaun Duffy
FTI Consulting
[phone]

Head Office
Level 1, 338 Barker Road, Subiaco, WA 6008, Australia
PO Box 20, Subiaco, WA 6904
T [phone], f + 61 8 9380 2799, e [email protected]

Houston
Aurora USA Oil & Gas, Inc. a subsidiary of Aurora Oil & Gas Limited
1200 Smith Street, Suite 2300, Houston TX 77002-5500
T + 1 713 402 1920, f + 1 713 357 9674