"Vermilion has entered into a definitive agreement with ZaZa Energy Corporation ("ZaZa") whereby Vermilion, through certain of its wholly owned subsidiaries, will acquire 100% of the shares of ZaZa Energy France S.A.S ("ZEF") (the "Acquisition") for approximately US$86 million, subject to customary closing adjustments, including working capital. ZEF's operating interests cover approximately 24,300 acres and 100% working interests in the Saint Firmin, Chateaurenard, Courtenay, Chuelles, and Charmottes fields in the Paris Basin. Current production is approximately 850 bbl/d of light Brent-based crude oil (approximately 27˚API). Proved plus probable developed producing reserves(3) at December 31, 2012, as evaluated by GLJ Petroleum Consultants Ltd. ("GLJ"), were estimated to be approximately 6.3 million boe with a reserve life index of over 20 years, reflecting the low decline rates of the acquired assets. The Acquisition is subject to customary conditions and receipt of all necessary regulatory approvals. Acquisition metrics of approximately US$101,000 per boe/d and US$13.65 per boe of proved plus probable developed producing reserves continue to reflect the high netback, long-life nature of the acquired assets. The Acquisition will be financed with existing bank debt capacity. Following closing of the Acquisition, Vermilion will continue to maintain considerable financial flexibility, with approximately $500 million of remaining borrowing capacity and a net debt-to-fund flows from operations ratio of approximately 1.2 times, which remains well below our peer group average."ja
"Vermilion further wishes to announce that it has initiated the process with the NYSE Euronext for a secondary listing of the Company's common shares on the NYSE Euronext's New York Stock Exchange ("NYSE"). Listing will be subject to fulfilling all of the listing requirements of the NYSE. Pending receipt of all applicable exchange and regulatory approvals, the Company expects its common shares will be listed on the NYSE during the first quarter of 2013 under the ticker symbol "VET""ja
Including the Acquisition, Vermilion's capital program for 2013 is anticipated to deliver production growth of approximately 6%, resulting in average daily 2013 production between 39,000 to 40,500 boe/d. We project that our product mix will be approximately two-thirds weighted to oil and natural gas liquids, with the remainder split roughly equally between Canadian natural gas and high-netback European natural gas (which has received an average price greater than US$9.50 per mcf thus far in 2012).
Zazan toimintojen osto ei ollut yllätys, kun myyntihalut oli tiedossa, realistisia ostajakandeja oli vain pari ja VET näistä ylivoimaisesti todennäköisin. Myyntihinta ei näytä pahalta, kun on kyse Brent-hinnoitellusta tavarasta. Koskaan ei tietenkään tiedä mitä kivaa Ranskassa keksitään maan harvoille öljyntuottajille kiusaksi.
