Vermilion Energy: The Re-Rating Story Is Far From Over

Vermilion Energy remains a Strong Buy, with significant upside supported by a fundamental transformation and attractive valuation. VET's 5-year plan targets C$1.7B cumulative excess FCF, 8–10% annual production per share growth, and substantial net debt reduction. Recent results show strong C$97.7M FCF, 25% YoY cost reduction/boe, and sustainable capital returns despite derivative-driven paper losses.