CALGARY, Sept. 9, 2013 /CNW/ - Vermilion Energy Inc. ("Vermilion") (TSX,
NYSE: VET) regrets to report that a fatal injury occurred this weekend
during construction of the Corrib project in Ireland. Vermilion owns
an 18.5% working interest in the project, which is operated by Shell
E&P Ireland Limited ("SEPIL").
Human safety and environmental protection are Vermilion's highest
priorities and we are saddened by this loss of life. We wish to
express our sincere condolences to the family and co-workers of the
deceased employee of Herrenknecht AG, a sub-contractor at the Corrib
project. The incident occurred on the tunnel boring machine that is
being utilized in operations at the Corrib tunnel site at Aughoose in
County Mayo.
Construction operations on the tunnel have been temporarily suspended
while coordinated investigations of the incident by Irish authorities
are completed. The integrity of the Corrib tunnel itself was not
compromised by the incident. Vermilion, as a non-operated partner in
the project, will be working with SEPIL to ensure that the cause of the
incident is clearly identified and appropriate steps are taken to
ensure the safety of workers before operations are re-established.
Vermilion will advise when the investigations are complete and
operations have resumed.
NOTE TO EDITORS:
Vermilion is an oil-leveraged producer that adheres to a value creation
strategy through the execution of full cycle exploration and production
programs focused on the acquisition, exploration, development and
optimization of producing properties in Western Canada, the broader
European region and Australia. Vermilion's business model targets
annual growth of approximately 5% together with providing reliable and
growing dividends. Vermilion is targeting annual growth in production
primarily through the exploitation of conventional resource plays in
Western Canada, including Cardium light oil and liquids rich natural
gas, the exploration and development of high impact natural gas
opportunities in the Netherlands and through drilling and workover
programs in France and Australia. Vermilion also holds an 18.5% working
interest in the Corrib gas field in Ireland. In addition, Vermilion
currently pays a monthly dividend of Canadian $0.20 per share, which
provides a current yield of approximately 5%. Management and directors
of Vermilion hold approximately 8% of the outstanding shares and are
dedicated to consistently delivering superior rewards for all its
stakeholders. Vermilion has an 18 year history of consistent strong
returns and market outperformance. Vermilion trades on the Toronto
Stock Exchange and the New York Stock Exchange under the symbol VET.
SOURCE: Vermilion Energy Inc.
Dean Morrison, CFA
Director, Investor Relations
Suite 3500, 520 - 3rd Avenue S.W.
Calgary, Alberta T2P 0R3
Phone: (403) 269-4884
Fax: (403) 476-8100
IR Toll Free: 1-866-895-8101
www.vermilionenergy.com
Copyright CNW Group 2013