07/06/2012 - 15:10

Aurora to move into S&P/ASX100

07/06/2012 - 15:10

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Aurora to move into S&P/ASX100

Aurora Oil and Gas has announced it will be elevated into the S&P/ASX100 index later this month, making it the 11th WA-based firm to join the top 100 listed companies in Australia .

Aurora chairman Jonathan Stewart said the inclusion in the index reflected the company’s successful transition from oil and gas explorer to producer.

The company’s market capitalisation is currently around $1.5 billion.

It recently launched a $107 million takeover bid for Western Australia-based Eureka Energy, seeking to consolidate its Texas shale gas assets.

The two companies are partners in the highly-prospective Sugarkane Field at Eagle Ford, Texas.

Aurora's elevation folows the April announcement that gold miner Regis Resources was included in the S&P/ASX100, to become the 10th WA representative.

Monadelphous engineering was added to the list in November last year.

The remaining WA firms in the index are Atlas Iron, Fortescue Metals Group, Iluka Resources, Paladin Energy, Perseus Mining, Seven West Media, Woodside Petroleum and Wesfarmers.

At close of trade today, Aurora stocks had shed 5.1 per cent, trading at $3.31.

 

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