CALGARY,
Sept. 9, 2013 /CNW/ - Vermilion
Energy Inc. ("Vermilion") (TSX, NYSE: VET) regrets to report that a
fatal injury occurred this weekend during construction of the
Corrib project in Ireland.
Vermilion owns an 18.5% working interest in the project, which is
operated by Shell E&P Ireland Limited ("SEPIL").
Human safety and environmental protection are
Vermilion's highest priorities and we are saddened by this loss of
life. We wish to express our sincere condolences to the
family and co-workers of the deceased employee of Herrenknecht AG,
a sub-contractor at the Corrib project. The incident occurred
on the tunnel boring machine that is being utilized in operations
at the Corrib tunnel site at Aughoose in County Mayo.
Construction operations on the tunnel have been
temporarily suspended while coordinated investigations of the
incident by Irish authorities are completed. The integrity of
the Corrib tunnel itself was not compromised by the incident.
Vermilion, as a non-operated partner in the project, will be
working with SEPIL to ensure that the cause of the incident is
clearly identified and appropriate steps are taken to ensure the
safety of workers before operations are re-established.
Vermilion will advise when the investigations are complete and
operations have resumed.
NOTE TO EDITORS:
Vermilion is an oil-leveraged producer that
adheres to a value creation strategy through the execution of full
cycle exploration and production programs focused on the
acquisition, exploration, development and optimization of producing
properties in Western Canada, the
broader European region and Australia. Vermilion's business model targets
annual growth of approximately 5% together with providing reliable
and growing dividends. Vermilion is targeting annual growth
in production primarily through the exploitation of conventional
resource plays in Western Canada,
including Cardium light oil and liquids rich natural gas, the
exploration and development of high impact natural gas
opportunities in the Netherlands
and through drilling and workover programs in France and Australia. Vermilion also holds an 18.5%
working interest in the Corrib gas field in Ireland. In addition, Vermilion currently pays
a monthly dividend of Canadian $0.20
per share, which provides a current yield of approximately
5%. Management and directors of Vermilion hold approximately
8% of the outstanding shares and are dedicated to consistently
delivering superior rewards for all its stakeholders. Vermilion has
an 18 year history of consistent strong returns and market
outperformance. Vermilion trades on the Toronto Stock Exchange and the New York Stock
Exchange under the symbol VET.
SOURCE Vermilion Energy Inc.