Aurora Ramps Up Sugarkane Reserves, Borrowing Base
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Aurora Oil & Gas Limited has reported a 50% increase in the borrowing base to US$300 million available under its revolving credit facility and to provide a mid-year reserves update of a 28% increase in proved, developed and producing (PDP) reserves.
Highlights: Significant increase in mid-year reserves from 2012 year end reserves Reserves update excludes anticipated year-end drilling density determinations 28% increase in gross PDP reserves to 27.6 mmboe 18% increase in gross 1P reserves to 112.0 mmboe 21% increase in gross 3P reserves to 203.3 mmboe 50% increase in borrowing base under credit facilities to US$300 millionThis increase in PDP reserves during the first half of 2013 has allowed for the significant increase in the amount available under the Facility, which remains undrawn.
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