Aurora appoints Houston based Chief Executive Officer

PERTH, Australia, Oct. 18, 2012 /CNW/ - Aurora Oil & Gas Limited ("Aurora" or 
"the Company") (ASX: AUT) (TSX: AEF) is pleased to announce it has appointed 
Mr Douglas E. Brooks to the role of Chief Executive Officer of the Aurora 
Group, effective 18 October 2012. Mr Brooks will be based in Aurora's Houston 
Jonathan Stewart, currently Executive Chairman and CEO will remain the 
Company's Executive Chairman. Mr Stewart founded Aurora in 2005 and has been 
instrumental in its development since that time. In his continuing role as 
full time Executive Chairman, Mr Stewart will maintain his heavy involvement 
in decisions around the Company's corporate activities and strategic direction. 
During a 30 year career in the oil & gas industry, Mr Brooks has held a number 
of senior executive positions, and was most recently the Senior Vice President 
of Business Development at Forest Oil Corporation, a position which he 
accepted in 2012. In the early part of his career, Mr Brooks spent 24 years 
with Marathon Oil Corporation and, in 2000, took on the role of Director of 
Upstream Mergers and Acquisitions, Worldwide and Business Development for 
North and South America. In 2006, Mr Brooks was appointed President and CEO of 
Compass Resources Corporation I, where he was responsible for development and 
subsequent divestiture of portfolio resource projects in Texas and Wyoming. 
Mr Brooks' appointment is in line with Aurora's strategy to recruit 
experienced US-based senior management to assist with the execution of its 
existing Sugarkane Field interests in the Eagle Ford, and to identify, 
evaluate and where appropriate pursue additional growth opportunities within 
the Eagle Ford. 
Significantly, this appointment separates the roles of Chairman and CEO at 
Aurora, which the Company believes is appropriate at this stage of its 
development and in line with corporate governance best practices. 
Aurora Chairman Jon Stewart said: "We are very pleased to have secured someone 
of Mr Brooks' calibre to the Aurora team and believe he has the skills, 
expertise, contacts and energy to assist Aurora to continue to develop our 
US-based assets and execute our existing focused growth strategy. Significant 
for Aurora is the time he has spent working in the US oil & gas industry and 
in senior management positions at Marathon Oil, our joint venture partner in 
the Eagle Ford Sugarkane Field. 
"Additionally, we have reached a point in our existence where as a Board we 
consider it prudent to separate the roles of Chair and CEO to reflect the size 
and complexity of the Company and the differences in those roles. My level of 
interest, commitment and activity in the Company will remain the same, as will 
our stated growth strategy. With our asset base situated in Texas and having 
established our operations base in Houston under COO Michael Verm, we believe 
having an industry experienced CEO in this jurisdiction full time will be of 
significant benefit for the Company and its shareholders." 
Commenting on his appointment, Mr Brooks said: "I am delighted to be joining 
the Aurora team and I am looking forward to helping drive the existing 
strategy that has been successfully executed to date. As CEO, I will assist 
Aurora's Board and management team in overseeing the development of the 
Company's very high quality Sugarkane oil and gas assets, as well as 
identifying accretive growth opportunities for the Company within the Eagle 
As Chief Executive Officer, Mr Brooks will be paid an annual salary of 
US$450,000 (inclusive of matching employer contributions under 401(k) 
retirement plans). Mr Brooks will be paid a US$250,000 make whole sign on 
bonus, which is subject to repayment (either fully or in part) if his 
employment is terminated within the first two years. In addition, Aurora has 
issued Mr Brooks 300,000 Performance Rights, each of which will entitle Mr 
Brooks to one ordinary share of Aurora upon vesting, and 750,000 Options to 
acquire ordinary shares of Aurora. The Performance Rights and Options will 
vest in three equal tranches as set out below: 

    --  100,000 Performance Rights and 250,000 Options (Tranche 1) will
        vest on the first anniversary of the date of commencement of
        his employment;
    --  100,000 Performance Rights and 250,000 Options (Tranche 2) will
        vest on the second anniversary of the date of commencement of
        his employment; and
    --  100,000 Performance Rights and 250,000 Options (Tranche 3) will
        vest on the third anniversary of the date of commencement of
        his employment,

For each tranche, vesting of Performance Rights and Options is subject to Mr 
Brooks remaining employed as CEO at the applicable vesting date. Unvested 
Performance Rights and Options will vest in the event of a change of control 
in respect of Aurora. Each Option will expire three years after its vesting, 
and the exercise prices for the Options are A$4.00 for Tranche 1 Options, 
A$4.50 for Tranche 2 Options and A$5.00 for Tranche 3 Options. The terms and 
conditions of the Performance Rights and Options will be governed by Aurora 
Long Term Incentive Plan Rules approved by shareholders in 2012.

Mr. Brooks employment agreement otherwise contains standard terms and 
conditions for agreements of this nature, including notice periods in the 
event of termination, expense reimbursements, leave entitlements and 
participation in health and benefit plans of the Aurora Group.

About Mr Brooks

Mr Brooks is a senior oil and gas executive with a career in the industry 
spanning 30 years. Mr Brooks worked business development and M&A roles at 
Marathon Oil Corporation for almost 25 years, including 6 years as Director of 
Mergers & Acquisitions, Worldwide, and Business Development across the 
Americas. In that role he built a global team to identify, review and execute 
M&A opportunities and to refine Marathon's global strategy, with a particular 
focus on North American business development. Mr Brooks left Marathon in 2006 
and founded private equity-backed firm Compass Resources Corporation I. During 
this time, he recruited a highly experienced technical team, identified, 
developed and sold two resources projects before selling the business in 2011. 
Most recently Mr Brooks was Senior Vice President of Business Development at 
US-listed Forest Oil Corporation. Mr Brooks is a board member of the Houston 
Producer's Forum and an advisor for Hart Energy's A&D Watch, a global energy 
research publication. He holds a Bachelor of Science in Business Management 
from the University of Wyoming - Casper and a Masters of Business 
Administration, Finance, from Our Lady of the Lake University in Texas.

About Aurora

Aurora is an Australian and Toronto listed oil and gas company active 
exclusively in the over pressured liquids rich region of the Eagle Ford Shale 
in Texas, United States. The Company is engaged in the development and 
production of oil, condensate and natural gas in Karnes, Live Oak and Atascosa 
counties in South Texas. Aurora participates in approximately 77,000 highly 
contiguous gross acres in the heart of the trend, including approximately 
19,300 net acres within the liquids rich zones of the Eagle Ford.

Aurora Oil & Gas Limited ABN 90 008 787 988 HEAD OFFICE Level 20, 77 St. 
Georges Terrace, Perth, WA 6000, Australia GPO Box 2530 Perth, WA 6001, 
Australia t +61 8 9440 2626, f +61 8 9440 2699,  
HOUSTON Aurora USA Oil & Gas, Inc. a subsidiary of Aurora Oil & Gas Limited 
1111 Louisiana, Suite 4550, Houston, TX 77002 USA t +1 713 402 1920, f +1 713 
357 9674 

SOURCE: Aurora Oil & Gas Limited

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CO: Aurora Oil & Gas Limited

-0- Oct/17/2012 23:01 GMT

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