Aurora Oil & Gas Limited (ASX:AUT) says it will continue with its takeover efforts for Eureka Energy Limited (ASX:EKA) despite its concerns over the terms of their $US15 million debt facility that Eureka has agreed with Macquarie Bank.
Aurora is a 4.38 per cent shareholder of Eureka and has offered $0.45 per share in its takeover bid valuing it at about $107 million.
Aurora’s chief has previously said, the transaction would build the company’s already strong presence in the Sugarkane field and grow its Eagle Ford portfolio.
In the first half of the 2012 financial year, Aurora Oil & Gas generated a net profit of $30.1 million.
