RE:Why is it doing sooo badly?Why have Vermillion mismanaged 500 million windfall tax? Seriously?
They accept having a profit cap? They have not locked a deal to limit the cap. Do you really want your future to be limited in good times and rendered lost in hard times? Where has capitalism gone? They need to leverage now before this happens again.I recommend you read this article https://calgaryherald.com/opinion/columnists/varcoe-despite-250m-windfall-tax-canadas-vermilion-energy-hikes-spending-in-europe
They should be threatening to shut down their production in Europe or find a selling partner to lower their profits (selling at a lower price to reduce profits). 500 million is almost half their debt. People start wars for that kind of money but Vermillion invests more in a capped European market without setting up limits on Windfall taxes. Europe needs money and will continue to steal profits even with lower revenues if it has a chance. Free money. Well done!
Still hope they will be bought out with their present strategy