Vermilion Energy Inc T.VET

VET may sell properties in France

[whoLuLu]

https://financialpost.com/commodities/energy/oil-gas/canadas-ipc-looks-to-sell-oil-producing-assets-in-france

[GregC24]

Or Maybe it will buy the IPC share of the shared properties?   They article doesn't say VET is selling.   "IPC, which also works in Canada and Malaysia, wants to divest from 17 fields in France yielding about 3,000 barrels a day, 12 of which it operates. Bids are expected next month, according to the documents." "Vermilion Energy Inc. is IPC’s partner in

[whoLuLu]

yes, didn't think about that  .. txk

[Oldnagger]

I forgot to mention it but the properties being mentioned are predominantly Crude Oil which gets Brent pricing. 

[IvanGubinski]

We are going to 13 next weeeek!

[stockmarket1]

Why? Because you said it? 30% upswing next week. Highly doubt it. I say you'll be wrong!!

[Oldnagger]

Just pure speculation on my part, but with the huge nat gas land position that VET hold , they will probably want to divert funds to that, also may want to farmout some of ther position since 2 million acres is absolutely huge for a company of VET's size !! If that is not the intention then debt will be able to be paid down very quickly Either way news should be very favourable. How much ? It

[CashGreenGold]

maybe..but... 2mm acres is enormous! Even if you assigned $1000 /ac (firesale price) that's all VET's debt right there  With $5 NG, $22 TTF, $72 oil..... Just a matter of time till VET is back $30+

[whoLuLu]

another village comment - Re: VET may sell properties in France I can't see Donadeo (VET's Chair, informal CEO (they have none currently but are probably grooming their new COO to be the CEO coincident with a re-established dividend being kicked off)) delaying debt paydown or issuing shares at current depressed values.   Either would damage credibility ('do what you say

[PipelessPauper]

I’ll copy in what I replied : "at the end of Q2, we were down to $2.0b debt"    it's actually a lot better than that. Vet includes amount under margin (hedging losses) in with "debt".   True figure (interest bearing term debt) is actually ~ $1790 mm.   They could be out of the woods and rdy for a div. reinstatement after this sale 

[Oldnagger]

Ipco and Vet are joint venture partners in French properties that got somewhat stranded when Total decided to shut down the nearby refinery which previously processed the barrels. Since then they were forced to truck and barge the barrels to another refinery. Details can be found here BTW Ipco is an interesting investment that may well be worth your time. They are international like VET but are

[baranja]

I wander if that's something to do with France being pissed on US/UK/AU. something is going on.

[stockmarket1]

I wonder if this explains the stock surge the past 2 week's? Maybe someone got word of this prior??

[maramos98]

Per lastest corporate presentation, IPCO France production is approximately 3000 bopd. Vermillion is a 50% partner on some of the licenses that IPCO is looking to divest.