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Aurora Oil & Gas Provides 2013 Guidance; Shares Rose 4% Tuesday

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Aurora Oil & Gas Limited (AEF.TO), which rose 4% Tuesday and has a year high $4.44, today provided 2013 guidance.

Summary:

- 45-50 net wells expected to spud in 2013, up 25-30% on November 2012

guidance.

- 14-19 net wells expected to spud on Aurora-operated Sugarkane field acreage.

- 30-32 net wells expected to spud on non-operated Sugarkane field acreage.

- Estimated 2013 production 7.2-8.0 million boe (gross) 5.3 to 5.9 million boe (net).

- December 2013 average production forecast at 23,000-25,000 boe/d gross (17,000-19,000 boe/d net).

- Forecast 2013 CAPEX for drilling and associated infrastructure US$430-465 million.

- Activity levels weighted to 2nd half 2013 with ~40% of CAPEX forecast for 4th quarter 2013.

- Drilling activity expected to increase following downspacing pilot program.

- Aurora to commence 40 acre spacing drill program on newly acquired acreage beginning of 3rd quarter 2013

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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