Woodford Shale: AOG Sells Woodford Stake

Aurora Oil & Gas has sold its stake in the Woodford Shale:

Sale of Oklahoma Project Area

Effective September 15, 2008, Aurora Oil & Gas Corporation ("Aurora") completed the sale of approximately 33,000 net acres, representing its entire Woodford shale position, for cash and other consideration valued in excess of $15 million. The transaction was completed with a private operator, Presidium Energy, LC ("Presidium"), which had been working to purchase the project from Aurora for several months. During that time period, Presidium made a $2 million non-refundable payment for the acreage and paid over $1 million of obligations to Aurora's operating partner in Oklahoma. At closing, Presidium made an additional $1 million cash payment and provided a promissory note in the amount of $12 million. In addition, Presidium assisted in negotiating a resolution to the lawsuit between Aurora and its operating partner, which led to a dismissal of the litigation, with prejudice.