AOG Aurora Oil & Gas Corp.

TRAVERSE CITY, Mich., Sept. 19 /PRNewswire-FirstCall/ -- Aurora Oil & Gas Corporation (AMEX:AOG) today announced that it has retained Johnson Rice & Company, L.L.C. to assist the Board of Directors with investigating strategic alternatives for the Company. These alternatives, among other things, may include revisions to the Company's strategic plan, asset divestitures, operating partnerships, identifying additional capital sources, or a sale, merger, or other business combination of the Company. William W. Deneau, Chairman and CEO, commented, "With the recent announcement of our Woodford Shale acreage and our continuing activities in the Antrim Shale and New Albany Shale, it is obvious that the Company has more opportunity available than can be developed with available capital. Our primary objective is enhancing shareholder value. The retention of Johnson Rice & Company to assist our Board is a positive step in that direction." The Company intends to disclose developments regarding the exploration of alternatives only if and when the Board of Directors has approved a specific course of action. There is no assurance that this process will result in any changes to the Company's current strategic direction. Mr. Deneau continued, "There is no specific timeframe to complete the review and there are no constraints on options to be explored. Johnson Rice & Company will assist our Board of Directors in reviewing the strategic alternatives, while management continues to focus on executing Aurora's current strategic plan." 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 based in the Michigan Antrim Shale, Indiana New Albany Shale and Oklahoma Woodford Shale. Cautionary Note on Forward-Looking Statements Statements regarding future events, occurrences, circumstances, activities, performance, outcomes and results, including changes in strategy, 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, interest rates, 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 Contact: Aurora Oil & Gas Corporation Jeffrey W. Deneau, Investor Relations (231) 941-0073 http://www.auroraogc.com/ DATASOURCE: Aurora Oil & Gas Corporation CONTACT: Jeffrey W. Deneau, Investor Relations of Aurora Oil & Gas Corporation, +1-231-941-0073 Web site: http://www.auroraogc.com/ http://www.b2i.us/irpass.asp?BzID=1419&to=ea&s=0

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