AOG Aurora Oil & Gas Corp.

Dutton Associates updates its coverage of Aurora Oil & Gas (AMEX:AOG) upgrading to a Strong Buy rating and a 12 month price target of $8.23. The 10-page report by Dutton senior analyst Richard R. Wolfe, CFA is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals. We continue to look for substantial growth from Aurora Oil & Gas Corp., both in terms of natural gas reserves and operating cash flow. Developments since our previous update report (January 25, 2006) have further enhanced the Company's prospects. Results from the quarter ended March 31, 2006, although falling short of our projections, exhibit strong growth and are indicative of continued progress in oil and gas operations. Aurora has once again added to its ownership interests in the Michigan Antrim Shale and Indiana New Albany Shale plays. Although we have lowered our near-term earnings and cash flow estimates, we continue to see strong growth in the Company's future and view the near-term changes as related only to the timing of growth over the next few quarters. Aurora is well positioned for robust growth via systematic development of low-risk, unconventional natural gas resources in Michigan and Indiana. Compared to our January update report, our production model now reflects the last few months' major expansion of the Company's net acreage position. About Dutton Associates Dutton Associates is one of the largest independent investment research firms in the U.S. Its 31 senior analysts are primarily CFAs, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors. The cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $33,000 from the Company for 4 Research Reports with coverage commencing on 11/18/2005. We do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.