Investor Relations

Document contains forward-looking financial and operational information including information relating to targeted total returns, earnings, cash flow, dividends, debt levels, production (including timing of first production and amount of deferred payment for Corrib Field), drilling plans, drilling prospects, reserves, resources, reserve and resource potential, production growth, gas pricing expectations and capital expenditure projections. This information is based on Vermilion's current expectations and is subject to a number of risks and uncertainties that could materially affect future results. These risks include, but are not limited to, general economic risks and uncertainties, future commodity prices, exchange rates, interest rates, geological risk, political risk, regulatory approval risk, production demand, transportation restrictions, risks associated with changes in tax, royalty and regulatory regimes and risks associated with international activities. Additional risks and uncertainties are described in Vermilion's Annual Information Form, as well as Vermilion's Management's Discussion and Analysis ("MD&A") which are filed on SEDAR at www.sedar.com. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in the Company's securities should not place undue reliance on these forward-looking statements. Forward looking statements contained in this document are made as of the date hereof and are subject to change. The Company assumes no obligation to revise or update forward looking statements to reflect new circumstances, except as required by applicable securities laws.

All references are to Canadian dollars unless otherwise specified.

Presentations contain certain financial measures that are not determined in accordance with Canadian generally accepted accounting principles ("Canadian GAAP"). These measures as presented do not have any standardized meaning prescribed by Canadian GAAP and therefore may not be comparable with calculations of similar measures by other companies. Reference is made to Vermilion's publicly filed documents, including our most recently filed MD&A, for a discussion of these non-Canadian GAAP measures, including for a reconciliation of "fund flows from operations" to cash flow from operating activities. Management believes that, in conjunction with results presented in accordance with Canadian GAAP, these measures assist in providing a more complete understanding of certain aspects of our results of operations and financial performance. Investors are cautioned, however, that these measures should not be construed as an alternative to measures determined in accordance with Canadian GAAP as an indication of our performance.

Certain natural gas volumes have been converted on the basis of six thousand cubic feet of gas to one barrel equivalent of oil. Barrels of oil equivalent (boe's) may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet to one barrel of oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

For a PDF copy of past or current presentations, please email us your request at investor_relations@vermilionenergy.com