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Vermilion Energy Inc. T.VET

Alternate Symbol(s):  VET

Vermilion Energy Inc. is a Canada-based international energy producer. The Company seeks to create value through the acquisition, exploration, development, and optimization of producing assets in North America, Europe, and Australia. Its business model emphasizes free cash flow generation and returning capital to investors when economically warranted, augmented by value-adding acquisitions. The Company’s operations are focused on the exploitation of light oil and liquids-rich natural gas conventional and unconventional resource plays in North America and the exploration and development of conventional natural gas and oil opportunities in Europe and Australia. The Company operates through seven geographical segments: Canada, the United States, France, Netherlands, Germany, Ireland, and Australia. In Canada, the Company is a key player in the highly productive Mannville condensate-rich gas play. It holds a 100% working interest in the Wandoo field, offshore Australia.


TSX:VET - Post by User

Bullboard Posts
Post by WheresMeGoldon Mar 18, 2020 7:15am
153 Views
Post# 30820385

VET executives fiddle while VET burns

VET executives fiddle while VET burnsI have been emphasizing for months that VET executives have not recognized and responded to  the changing business environment it operates under. This was the case before coronavirus and is more the case after. This is why they are always 4-5 moves behind. 

I emphasized that the dividend was unsustainable and would be cut regardless of the CEO reassuring it wouldn’t. After the first cut I said it would be cut further to 1-2 cents per month but even that would be irresponsible. I couldn’t have been more spot on. 

So what is VET doing still paying dividend? Are they resigned to the fact that VET is going under and to just ride it to oblivion? This is survival time. If VET can’t bring itself to suspend the dividend then what else can’t it bring itself to do? You better believe it’s competitors are making moves to survive.

As I’ve said over and over, the #1 goal of a business is to stay in business. VET executives don’t seem to get it even now. This is so unfortunate and sad. And it should give VET shareholders tremendous pause that an average guy like me knows and continuously knew better than VET executives. JMHO. GLTA. 
Bullboard Posts