Investor Relations

Investor Relations

Vermilion has put in place the following derivative financial insturments to manage exposure to fluctuations in commodity prices.

WTI	Term	Vol ⁽¹⁾bbl/d	Floor US$/bbl	Ceiling US$/bbl
Vermilion Oil Hedging Summary
Collar	Apr-Dec 10	1,500	72.00	95.00
Collar	Cal10	1,500	70.00	97.80
Collar	Cal10	1,500	72.00	99.00
Collar	Cal10	1,500	72.00	100.65
Collar	Cal10	750	70.00	97.40
Collar	Cal10	750	69.00	90.15
¹Represents approximately 40% of Vermilion's projected 2010 oil production

AECO	Term	Vol ⁽¹⁾GJ/d	Contract $/GJ Floor	Contract $/GJ Ceiling	Implied Price C$/mcf Floor ⁽²⁾	Implied Price C$/mcf Ceiling ⁽²⁾
Vermilion Natural Gas Hedging Summary
Put	Jar-Mar 10	10,000	4.50	-	5.18	-
Put	Jan-Mar 10	4,000	4.50	-	5.18	-
Swap	Jan 10-Oct 11	700	5.13	5.13	5.90	5.90
Collar	Mar 10	15,000	4.50	5.85	5.18	6.73
Put	Summer 10	10,000	4.50	-	5.18	-
Collar	Summer 10	2,000	4.70	7.35	5.41	8.45
Collar	Summer 10	2,500	4.70	7.35	5.41	8.45
Swap	Summer 10	5,000	5.30	5.30	6.09	6.09
Swap	Summer 10	5,000	5.28	5.28	6.07	6.07
Swap	Summer 10	5,000	5.28	5.28	6.07	6.07
¹ Represents approximately 45% of Vermilion's projected 2010 CDN gas production
² Vermilion heating value is approximately 1.15 GJ/mcf