AOG Aurora Oil & Gas Corp.

Dutton Associates updates its coverage of Aurora Oil & Gas (AMEX:AOG) maintaining a Strong Buy rating and raising its 12 month price target to $9.50. The 7-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. Aurora Oil & Gas Corp. should be able to continue to make substantial additions of natural gas reserves, and the Company is also approaching an extended period of rapid cash-flow growth. Developments since our previous update report (June 23, 2006), especially the announcement of further additions to Aurora's acreage and leasehold interests in the Michigan Antrim Shale and Indiana New Albany Shale plays, have further enhanced the Company's prospects, and cash flow for the quarter ended June 30, 2006 exceeded our expectations. (We have also increased our estimated recoverable reserves from New Albany Shale wells.) Although our earnings and cash-flow estimates for the remainder of 2006 and the first quarter of 2007 have declined due to a more extended New Albany Shale drilling schedule and escalating drilling costs, our longer-term estimates have increased, thanks to the net acreage additions and new reserve assumptions. Of key importance is our increased expectation for long-term reserve additions. These, in turn, drive our valuation, and consequently we have raised our price target to $9.50 per share. 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 $39,500 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. Contact: Dutton Associates: For more information on this release, or on enrolling a company for research coverage, please contact John Dutton at 916-941-8119.