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 > Extending the life of Corrib field and infrastructure

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Comment by Quintessential1on Dec 12, 2022 10:09am

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Post# 35165891

RE:Extending the life of Corrib field and infrastructure

I am sure the feasibility includes a return on investment that does not include shelling out 33% in windfall taxes this year.

That 33% would probably go a long way towards the existing technology improvments required to extend the Corrib field's life.

Improving the Co Mayo terminal’s existing technology could lengthen the field’s life, while there are hopes that there are other reserves nearby that could also be exploited.

The Irish government stands to make far more from a windfall investment over the next decade than they do from a one year windfall tax. While continuing to supply their population and industries with a safe and secure form of energy that is the cleanest of the fossil fuels including LNG. Seems like a win-win for them.

“The Corrib infrastructure has the potential to deliver a safe, secure source of energy for decades to come,” the firms said in a statement.

Abedim15 wrote:
https://www.google.ca/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwiW4KaEgvT7AhVLlIkEHTjMC6EQFnoECA4QAQ&url=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2F2022%2F08%2F30%2Fcorrib-owners-look-to-extend-gas-fields-life%2F&usg=AOvVaw360HH5cdH3OJvPZ4oaRD5i

this article is from last August. I wonder where the thoughts of the feasibility study sit given the introduction of windfall taxes in Sept

GLTY and all

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