Vermilion Energy Inc T.VET

Alternate Symbol(s): VET

Energy Oil & Gas E&P

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.

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Vermilion Energy Inc > Windfall tax passed?

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Comment by Moemoney42on Sep 30, 2022 3:49pm

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Post# 34998411

RE:RE:RE:RE:RE:RE:Windfall tax passed?

I suppose they could balance the "surplus profits" by transferring some that could fall into that "surplus" category to other areas of the globe they operate.. thus no European "surplus" would be evident as VET is domiciled in Canada..??

Quintessential1 wrote: Yeah, I have no idea what level they are going to cap at. VET has made a lot of profit but if the surplus tax is applied to a set number they may fall under or just above that bar as bigger oil companies make way more in dollar value but not neccessarily percentage of costs.

I am sure that enough forewarning has been given that VET's management have already looked into the best way to deal with this. I am sure they would share that info with us if they did not think that the EU would just change the rules again.

Like I said ...max? 1/3 of 1/3 (VET's European revenue).....whatever.

GLTA Longs

Moemoney42 wrote: I stand corrected.. but here's the fly in the ointment.. how do you determine "surplus profits"

"The plan includes a levy on fossil fuel firms' surplus profits and a levy on excess revenues made from surging electricity costs."
"EU ministers estimate that they can raise €140bn (£123bn) from the levies on non-gas electricity producers and suppliers that are making larger-than-usual profits from the current demand."

Quintessential1 wrote: It didn't pass?

https://www.bbc.com/news/business-63089222

"Ministers have agreed windfall taxes on certain energy companies as well as mandatory cuts in electricity use."

Is this still just a proposal that requires a vote?

GLTA

Moemoney42 wrote: Can't see that windfall tax even getting off the ground personally.. they have to have all the members in the Eurozone to agree.. ever try hearding cats..?? :-0