Unidentified Questioner 3's questions to Vermilion Energy Inc (VET) leadership • Q1 2024
Question
An unidentified questioner asked about the history of the European windfall tax and the potential risk of it being reintroduced.
Answer
President and CEO Anthony Hatcher detailed that the tax was a response to exponentially high gas prices following events in Ukraine. He noted that with European gas prices having normalized, the European Union has determined the policy is no longer needed and it has expired. Hatcher stated that the only catalyst for its return would be another extraordinary spike in prices, which he views as a 'right way risk,' as the company would still be highly profitable even with the tax at those price levels.