Vermilion Energy Inc T.VET

After hours drop after hours

[Abedim15]

Fair size drop (3.5%) in after hours trading on US market, all of a sudden with some volume. Anyone know if something is up. No ideas here.

[Abedim15]

Maybe this.. but if I'm reading it correctly it says non-gas electric is to be taxed at 75% https://www.breakingnews.ie/amp/ireland/memo-on-introducing-energy-windfall-tax-to-be-brought-before-irish-ministers-1395457.html

[maramos98]

From a Bloomberg article. "For this year and next, companies active in fossil fuel production and refining will have to pay a “solidarity contribution” based on their average taxable profits from 2018 to 2021. Profits more than 20% above the baseline will be taxed at 75%."

[maramos98]

This will not end well for the Europeans.    

[maramos98]

"Companies directly involved in producing fossil fuels will also have a tax on their profits, though there are few of these in Ireland.   The windfall tax will raise between €340 million and €1.9 billion, according to the Government.   The tax will be levied at €120 per megawatt hour.   While the solidarity charge will be 75% of the excess profits of fossil fuel

[McRambus]

I think you meant to say.... ....This will not end well for Vermillion shareholders.

[Ebankbank]

So if this is going to effect Vermilion? This is only on their Europe assets? The governments should take off their taxes on the products before they assess a win fall tax ?????

[Citizen13]

Nobody has a clue what will happen .My goodness what a cluster F this is . Again, this cannot be legal in a democratic capitalist society . BTW always remember income taxes were supposed to be " temporary"  during the war . BS. Once they depend on an income stream the leeches will never let go.  Oil companies should only agree if the communist governments agree to supplement &

[Oldnagger]

Presumably cooler heads will prevail,once the media circus dies down , otherwise Putin wins as Europe destroys itself by socialistic stupidity !! We have seen this all before in Canada with the NEP A lost decade !!