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Australia
STABLE ASSET DELIVERING BRENT CRUDE PRODUCTION AND STRONG FREE CASH FLOW
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- Entered Australia in 2005
- Offshore oil field ~80 km NW of Australia (55m water depth)
- Horizontal well development with 21 producing well bores
- Wells 600m below sea bed with 500 to 1,000+ m horizontal lengths
- Contracted oil production receives a premium of >US $7 to dated Brent index
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Canada
CANADIAN INVENTORY EXPECTED TO DRIVE NEAR AND MEDIUM TERM GROWTH
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- Cardium light oil development
- Mannville liquids-rich gas inventory
- Extensive position in Duvernay resource play
- Canadian cash flows are fully tax-sheltered for forseeable future
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France
VERMILION IS THE #1 OIL PRODUCER IN FRANCE |
- Entered France in 1997
- Achieved record annual production level in 2012
- Assets characterized by large OOIP conventional fields with high working interest (OOIP in 4 largest fields >1.4 Bboe)
- Workover, infill drilling and secondary recovery opportunities
- Stable Brent indexed production base with low base decline rate
- Historically strong free cash flow generator
- Potential resource play development over long-term
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Netherlands
WORLD CLASS CONVENTIONAL NATURAL GAS BASIN
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- Entered Netherlands in 2004
- High impact natural gas drilling and development
- Royalty free natural gas
- Expect 2013 gas price to be ~$10/mcf
- Increasing production while consistently reinvesting <50% of FFO
- Achieved record annual production in 2012
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Ireland
CORRIB WILL DELIVER 60%-65% OF IRELAND'S GAS NEEDS AT PEAK PRODUCTION
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- Offshore natural gas field 83 km NW of Ireland (350m water depth)
- 18.5% working interest acquired 2009
- Well total depth ~3,000m below sea level
- Expected production of 55 mmcf/d (9,000 boe/d) net to Vermilion in late 2014 or early 2015 with peak production in mid-2015 (company estimates)
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