Aurora Oil & Gas Limited - Transaction update

Court approves dispatch of Scheme Booklet and convening of Scheme Meeting

PERTH, Western Australia, April 14, 2014 /CNW/ - Aurora Oil & Gas (ASX:AUT, TSX:AEF) (Aurora) is pleased to announce that the Federal Court of Australia has made orders approving the dispatch of the scheme booklet (Scheme Booklet) in relation to the proposed scheme of arrangement under which Baytex Energy Corp. (Baytex) will acquire, through its wholly owned subsidiary Baytex Energy Australia Pty Ltd, all of the shares in Aurora (Scheme).

The Court has also ordered that a meeting of Aurora shareholders be convened to consider and vote on the Scheme.

Implementation of the Scheme is subject to a number of conditions under the Scheme Implementation Deed announced to ASX on 7 February 2014 (SID), including Aurora shareholder approval in respect of the Scheme and approval by the Court. Aurora shareholders (other than Baytex and any of its associates) will vote on the Scheme at a Scheme Meeting, which will be held at BDO, 38 Station Street, Subiaco, Perth on Wednesday, 21 May 2014 at 9.30am (Perth time).

Information relating to the Scheme, including the notice convening the Scheme Meeting and the independent expert's report, will be included in the Scheme Booklet that will be sent to shareholders between 14 and 17 April 2014.

The key events and the expected timing in relation to the approval and implementation of the Scheme are set out in the table below.

Scheme Booklet despatched to Aurora Shareholders	14-17 April 2014
Scheme Meeting	21 May 2014
Second Court Hearing	26 May 2014
Effective Date	27 May 2014
Scheme Record Date	3 June 2014
Implementation Date	10 June 2014

All dates are indicative only and are subject to the Court approval process, ASX approval and the satisfaction or, where applicable, waiver of conditions under the SID. Any changes to the above timetable will be announced to ASX and notified on Aurora's website at www.auroraoag.com.au and under Aurora's profile on SEDAR at www.sedar.com.

A further announcement attaching the Scheme Booklet will be released by Aurora following registration of the Scheme Booklet with the Australian Securities and Investments Commission, which is expected to occur later today.



Contact

Investors:
Jon Stewart, Executive Chairman
Aurora Oil & Gas Ltd.
Tel: +61 8 9380 2700

Media: Shaun Duffy
FTI Consulting
Tel: +61 8 9485 8888
Mob: +61 404 094 384
Shaun.Duffy@fticonsulting.com

Head Office
Level 1, 338 Barker Road, Subiaco, WA 6008, Australia
PO Box 20, Subiaco, WA 6904
T +61 8 9380 2700, f + 61 8 9380 2799, e info@auroraoag.com.au

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