AOG Aurora Oil & Gas Corp.

TRAVERSE CITY, Mich., Sept. 10 /PRNewswire-FirstCall/ -- Aurora Oil & Gas Corporation (AMEX:AOG) today announced that it has established an acreage position of over 30,000 net acres in the Woodford Shale natural gas play of Oklahoma. In early 2006, Aurora Oil & Gas Corporation ("AOG"), in conjunction with a private operator based in Oklahoma, had identified a Woodford Shale target area. Together, the companies initiated the requisite administrative and leasing efforts required to assemble an acreage block of sufficient scale to offer competitive advantages and support exploration activities. The identified target area is focused in central Oklahoma, which is experiencing a significant increase in leasing and drilling activity. It is positioned among geological provinces with active Woodford Shale development, with average depths over 5,000 feet and organic shale thickness up to 300 feet. To date, AOG has expended approximately $6.5 million for an 89% working interest in over 35,000 gross acres in the play. Aurora's early leasing activities have allowed the Company to establish this competitive position in the targeted play area. Leasing activities are continuing. AOG has targeted 2008 for a pilot program of 5 test wells in its project area. Since the Company's current capital expenditure budget has been dedicated to further development of the Antrim and New Albany Shales, AOG has been in discussions with potential financing and joint venture partners to facilitate aggressive development of this acreage. William W. Deneau, Chief Executive Officer, remarked, "The Woodford Shale is very competitive, and we are pleased to have established a foothold in this exciting new play." About Aurora Oil & Gas Corporation Aurora Oil & Gas Corporation is an independent energy company focused on unconventional natural gas exploration, acquisition, development and production with its operations primarily in the Antrim Shale of Michigan, the New Albany Shale of Indiana and the Woodford Shale of Oklahoma. Cautionary Note on Forward-Looking Statements Statements regarding future events, occurrences, circumstances, activities, performance, outcomes and results, including number of wells to be drilled, anticipated capital expenditures, the availability of capital, and plans for future growth through drilling and production are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although we believe that the forward-looking statements described are based on reasonable assumptions, we can give no assurance that they will prove accurate. Important factors that could cause our actual results to differ materially from those included in the forward-looking statements include the timing and extent of changes in commodity prices for oil and gas, drilling and operating risks, the availability of drilling rigs, changes in laws or government regulations, unforeseen engineering and mechanical or technological difficulties in drilling the wells, operating hazards, weather-related delays, the loss of existing credit facilities, availability of capital, and other risks more fully described in our filings with the Securities and Exchange Commission. All forward-looking statements contained in this release, including any forecasts and estimates, are based on management's outlook only as of the date of this release and we undertake no obligation to update or revise these forward-looking statements, whether as a result of subsequent developments or otherwise. Join our email distribution list: http://www.b2i.us/irpass.asp?BzID=1419&to=ea&s=0 DATASOURCE: Aurora Oil & Gas Corporation CONTACT: Jeffrey W. Deneau, Investor Relations, Aurora Oil & Gas Corporation, +1-231-941-0073, http://www.auroraogc.com/

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