Aurora Oil & Gas to consider alternatives, possible sale

By Lisa Kerner

Charlotte, N.C., Sept. 19 - Aurora Oil & Gas Corp.'s board of directors, with assistance from Johnson Rice & Co., LLC, will investigate strategic alternatives for the company.

The alternatives could include revisions to the company's strategic plan, asset divestitures, operating partnerships, identifying additional capital sources, or a sale, merger or other business combination.

"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," chairman and chief executive officer William W. Deneau said in a company news release.

Aurora will disclose further developments if and when the board has approved a specific course of action. The company said there is no assurance the process will result in any changes to its current direction and no timeframe was given for completion of the process.

Aurora is a Traverse, Mich.-based independent energy company.

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