TORONTO, March 21, 2013 /CNW/ - Aurora Oil & Gas Limited ("Aurora")
(ASX: AUT) (TSX: AEF) today announced that it has closed the previously
announced offering by its wholly owned subsidiary, Aurora USA Oil &
Gas, Inc. (the "Issuer"), of US$300 million aggregate principal amount
of senior unsecured notes due 2020 (the "Notes"). The Notes were issued
at par and bear interest at 7.50% per annum payable semi-annually in
arrears, beginning October 1, 2013. The Notes will be issued 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 Notes offering
of approximately US$293 million 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.
The Notes have not been and 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 were
offered and sold 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 U.S. Securities Act. In Canada, the Notes
were 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