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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

Comment by Abedim15on Nov 10, 2022 12:21pm
327 Views
Post# 35088818

RE:RE:RE:Imagine the conversations...

RE:RE:RE:Imagine the conversations...

Just listened to the Q & A after the conference call. Apparently there is a requirement that each individual country specify the terms of the windfall tax by Dec 31st. That doesn't necessarily mean that options available to offset a portion of the tax will be specified. If in fact there are any. It should however be specific on how much they are going to collect. Whether it is for 22 and 23 or just for 22 or only for 23. Vet has calculated that their exposure - if it is imposed for both 22 and 23 may be anywhere from 600 to 750 million. Certainly not chump change for a company but hardly enough to make a real difference to individual citizen's fuel costs.
One of the questions asked related to the possibility of the windfall tax extending beyond 2023 and how that may impact Vet capex investment in Europe. The answer, basically- yes it's possible that the tax will be extended. Vet is working with Govt to work on how companies can best contribute to energy security but bottom line - Vet remains committed to their European operations. 

one thing that I missed on paper but caught during the conversation is that the wells drilled in Hungary were deemed non-commercial. So a company takes the risk, if it fails it's on them but if it succeeds well then we'll take our share, cause like it's our country.

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