energy stocks went up today. Russia has cutoff gas to Europe. Vermillion has onshore gas in the Netherlands and also produces gas offshore in the North Sea.
They are diversified with oil production in Canada as well. Vermillion should report another solid quarter and has two catalysts coming. They bought out their partner in the Corrib gas fields off Ireland. They have 20% and are buying another 36% but the deal doesn't have govt approval yet. In the meantime, the gas is accruing to VET from 1/22 and will be added to the P&L when the deal is closed. They also have another purchase pending. Vermillion is getting $35+/mcf for their gas. If Russia does cutoff Europe from further Nord1 gas, ngas in Europe will spike even higher and VET will be one of the beneficiaries.
Here is a Seeking Alpha article discussing Vermillion: