Aurora Oil & Gas Limited - Satisfaction of condition precedent

PERTH, Western Australia, March 10, 2014 /CNW/ - Aurora Oil & Gas (ASX: AUT) (TSX: AEF) is pleased to announce that it has received written notification from the United States Federal Trade Commission (FTC) that a request for early termination of the waiting period under the Hart Scott Rodino Antitrust Improvements Act of 1976 (U.S.) in respect of Aurora's proposed scheme of arrangement under which Baytex Energy Corp. will acquire all the issued shares in Aurora for $4.10 cash per share, has been granted by the FTC effective March 4, 2014.

This satisfies one of the conditions precedent to implementation of the scheme under the Scheme Implementation Deed between Aurora and Baytex, a copy of which was released to the Australian Securities Exchange on 7 February 2014 (SID) and can be found on SEDAR and the Aurora website at www.auroraoag.com.au

Transaction update

Aurora and Baytex continue to work collaboratively towards satisfying the remaining condition precedents to the scheme as set out in the SID. As far as Aurora is aware, as at the date of this announcement, there are no circumstances that have occurred which will cause any of the conditions not to be satisfied or to become incapable of satisfaction. Aurora will continue to keep shareholders informed of the status of the satisfaction of the condition precedents and the scheme generally.

Resignation and Appointment of Chief Financial Officer of Aurora

Aurora's Finance Director, Graham Dowland, has been appointed chief financial officer of Aurora effective March 9, 2014. He replaces David Lucke who has resigned from office to pursue other opportunities. Mr Dowland previously served as Aurora's chief financial officer, in his capacity as Finance Director, from November 2010 to Mr Lucke's appointment in May 2013.

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 over 80,200 highly contiguous gross acres in the heart of the trend, including over 22,200 net acres within the liquids rich zones of the Eagle Ford.

SOURCE Aurora Oil & Gas Limited