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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (128030)	7/28/2022 9:43:54 AM
From: Goose94	Read Replies (1) \| Respond to of 202365

Vermilion Energy (VET-T) new 52 week high, $32.10 on so-so vol.

To: Goose94 who wrote (128030)	9/27/2022 10:14:50 PM
From: Goose94	Read Replies (1) \| Respond to of 202365

Vermilion Energy (VET-T) investors seemed intrigued by Ireland, where Vermilion is a major producer and where the government has decided -- for now -- not to impose a windfall tax on oil and gas companies. The Irish government released its fiscal budget today and unveiled a raft of measures aimed at "helping individuals, families and businesses to deal with rising prices." While such measures included energy credits and fuel excise reductions, they stopped short of a windfall tax on producers' profits. This may, however, only be a stay of execution. The Irish government suggested that the only reason it did not impose a windfall tax is because it is awaiting a higher-level directive from the European Union. Earlier this month, the EU proposed a 25-billion-euro windfall tax on oil and gas producers, which would apply to at least 33 per cent of their so-called "surplus" profits in 2022. As Vermilion gets roughly one-third of its production from Europe -- soon to rise to about half of its production, once it closes a large Irish acquisition later this year -- concerns about the proposal have played a large role in the stock's plunge toward $25 from $35 since the start of the month. The EU proposal has drawn plenty of criticism, even from member countries. Given that the proposal will need unanimous approval from all 27 member countries if it is to go forward, negotiators are reportedly trying to seek a compromise ahead of a crucial vote this Friday, Sept. 30. Reuters reported today that a revised draft proposal would (among other things) allow countries to delay imposing the windfall tax by a year. Full details remain scarce, but will presumably be hammered out by Friday. In the meantime, Vermilion's share price, after falling every single day for nearly two weeks, finally enjoyed a day in the green. Business Reporter