About Vermilion

Vermilion is pleased to announce that our commitment to strong corporate governance was recognized once again in the Globe & Mail's annual Board Games survey. Facing substantial increases from securities regulators in both governance and disclosure requirements, and increasing scrutiny from investors, Vermilion is proud to announce that in 2009 we climbed back to the #1 ranking among all energy trusts and #2 ranking among all Canadian trusts. This survey ranks Canadian companies and income trusts based on governance practices that included board composition, compensation, shareholder rights, disclosure, accountability and total return performance. In 2008 Vermilion ranked 2nd among energy trusts and 3rd among all Canadian trusts, In 2007, Vermilion ranked 1st among energy trusts and 1st among all Canada's income trusts. The Board also ranked in the top ten out of 275 companies reviewed in Canadian Business Magazine's annual governance survey.

The Trust's corporate governance practices have been established pursuant to the terms of the Trust Indenture and with reference to the provisions of National Instrument 58-201, Corporate Governance Guidelines ("NI 58-201"). Vermilion is committed to a high standard of corporate governance practices. The Board believes that this commitment is not only in the best interest of Unitholders but that it also promotes effective decision making at the Board level. The Board is of the view that its approach to corporate governance is appropriate and complies with the objectives and guidelines relating to corporate governance set forth in NI 58-201.  In addition, the Board monitors and considers for implementation by the Trust the corporate governance standards which are proposed and/or enforced by various Canadian regulatory authorities or which are published by various non-regulatory organizations in Canada.
 

For a complete review of our Corporate Governance Guidelines, please refer to our most recent Information Circular