PERTH, Western Australia, March 13, 2013 /CNW/ - Aurora Oil & Gas
Limited (TSX: AEF) (ASX: AUT) today announced plans to commence,
subject to market and other customary conditions, a private offering of
up to US$250 million in aggregate principal amount of senior unsecured
notes due in 2020 ("Notes"). The Notes will be issued by a wholly
owned subsidiary of Aurora as senior unsecured obligations of the
issuer, and will be guaranteed by Aurora and each of the subsidiaries
of the issuer.
Aurora intends to use the net proceeds from the proposed Note offering
primarily to fund the purchase price of US$117.5 million (subject to
customary adjustments) for the asset acquisition announced on February
28, 2013. In addition, the net proceeds will be used, together with
operational cashflow and funds available from the existing senior
credit facility, to fund the development of Aurora's holdings in the
Eagle Ford shale trend and for general corporate purposes, including
financing potential future acquisitions of oil and natural gas
interests in its core areas. Including the acreage to be acquired in
the asset acquisition, Aurora is planning to drill 45 and 50 net wells
in 2013, resulting in an annual cashflow capital expenditure of between
US$430 and US$465 million.
The Notes to be offered will not be registered under the U.S. Securities
Act of 1933, as amended (the "U.S. Securities Act"), and may not be
offered or sold in the United States absent registration or an
applicable exemption from registration requirements. The Notes are
being offered only to qualified institutional buyers in the United
States in accordance with Rule 144A under the U.S. Securities Act and
to certain non-U.S. persons outside the United States in compliance
with Regulation S under the Securities Act. In Canada, the Notes will
be offered and sold on a private placement basis in certain provinces
of Canada to certain accredited investors.
This press release does not constitute an offer to sell, or a
solicitation of an offer to buy, any security and shall not constitute
an offer, solicitation or sale in any jurisdiction in which such an
offer, solicitation, or sale would be unlawful.
Forward-Looking Statements
Statements in this press release which are not statements of historical
facts, including but not limited to those relating to the proposed
offering of senior notes and the proposed use of proceeds from the
offering, are forward-looking statements. These statements instead
represent management's current expectations, estimates and projections
regarding future events. Although management believes the expectations
reflected in such forward-looking statements are reasonable,
forward-looking statements are based on the opinions, assumptions and
estimates of management at the date the statements are made, and are
subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those
projected in the forward-looking statements. Accordingly, investors are
cautioned not to place undue reliance on such statements.
SOURCE: Aurora Oil & Gas Limited
Aurora Oil & Gas Limited ABN 90 008 787 988
HEAD OFFICE
Level 20, 77 St. Georges Terrace, Perth, WA 6000, Australia
GPO Box 2530 Perth, WA 6001, Australia
t +61 8 9440 2626, f +61 8 9440 2699, e info@auroraoag.com.au
HOUSTON
Aurora USA Oil & Gas, Inc. a subsidiary of Aurora Oil & Gas Limited
1111 Louisiana, Suite 4550, Houston, TX 77002 USA
t +1 713 402 1920, f +1 713 357 9674
www.auroraoag.com.au