Eureka Energy's board is rejected an offer from Aurora Oil & Gas, but could be near an agreement with Lonestar Resources. Details of a potential agreement will not be known until Eureka's board meets over the weekend. Aurora's offer is only good until June 15 and Australian regulations prevent the company from making a higher offer until after that date. Lonestar Resources is a private Fort Worth based company with interests in the Bakken, Barnett, and Eagle Ford shales.

Read more on the potential offer at wsj.com