texon efs sale , page-5

aut announcement (txn is a suitor for aut)

The business plan

Execution of rapid development at Sugarkane is the primary corporate objective.

Remain conservatively funded

Execute effectively Sugarkane field’s scalable, low risk, profitable growth including its significant upside
potential (organic growth)

Consolidation of Sugarkane minority interests where adequately accretive

Cautiously look to expand Eagle Ford liquids rich acreage portfolio within Aurora’s buy zone

— Aurora continues to evaluate a growing number of opportunities within the Eagle Ford of various sizes and stages of development

Priority considerations for non-organic growth

Liquids rich

Must be adequately accretive without materially altering the existing low risk - high return profile

If operated we require internally generated clarity on execution of development, flexibility in pace of
development, access to infrastructure etc

If non-operated we add Operator commitment to, capacity for and experience in development