Aurora Oil & Gas Limited - On Market Offer for Eureka - Compulsory Acquisition

• Aurora to proceed to compulsory acquisition of remaining shares in Eureka
• Aurora currently holds 91.75% of Eureka
• Eureka shareholders who accept before end of the Offer period will receive payment three trading days after acceptance
• Offer closes at 4.00pm (AEST) Friday 6 July 2012

PERTH, Australia, July 3, 2012 /CNW/ - As set out in its Bidder's Statement dated 30 April 2012, Aurora Oil & Gas Limited (ASX:AUT) (TSX:AEF) ("Aurora") made an on market offer ("Offer") to acquire all of the ordinary shares in Eureka Energy Limited (ASX:EKA) ("Eureka") that it did not already own at the time of the Offer.

As at 2 July 2012, Aurora's relevant interest in Eureka is 91.75%. Aurora will now proceed to acquire the remaining Eureka shares under the compulsory acquisition provisions of the Corporations Act 2001 (Cth).

The compulsory acquisition will be on the same terms as the Offer, that is, cash consideration of $0.45 per Eureka share. The compulsory acquisition process, which is subject to the Corporations Act, is likely to take approximately 4 to 6 weeks but may take longer in some circumstances.

Shareholders who have not accepted into the Offer, you may still do so before 4.00pm (AEST) Friday 6 July 2012 and receive payment three trading days after acceptance.  If shareholders wait to have their Eureka shares compulsorily acquired they will have to wait at least four weeks to receive payment.

A copy of ASIC form 6021 - notice of compulsory acquisition following takeover bid, which sets out the compulsory acquisition procedure and the remaining Eureka shareholders' rights; and an accompanying letter to be sent to the remaining Eureka shareholders can be found on SEDAR and the Company's website at www.auroraoag.com.au

Further Information:

If shareholders have any questions in relation to the Offer please call the Offer Information Line on 1800 821 492 (toll-free for calls made within Australia) or [phone] (for calls made from outside Australia) from Monday to Friday between 9:00am and 5:00pm (AEST time). Please note that calls to these numbers may be recorded.

Media Contact:

Shaun Duffy
FTI Consulting (Perth)
08 9386 1233
0404 094 384
[email protected]

Ilse Schache
FTI Consulting (Sydney)
02 8298 6100
0416 041 768
[email protected]