Vermilion Energy Trust - Orca 1 - Operational Update

    CALGARY, Sept. 25 /CNW/ - Vermilion Energy Trust ("Vermilion") and its
joint venture participants, Verenex Energy Inc. ("Verenex") and Bordeaux
Energy Inc. ("Bordeaux") announce an operational update on the Orca 1 well.
The well encountered a sealing element and the target Aptian formation as was
indicated on seismic, however, preliminary evaluation of mud log data, logging
while drilling (LWD) data and analysis of well cuttings do not indicate any
presence of hydrocarbons in this primary objective. Vermilion will continue to
drill for an expected 48 hours towards a possible secondary target. A full
suite of wireline logs will be run to confirm the drilling results after which
the well will be abandoned as planned from the outset. Evaluation of the data
gathered from this well, together with further seismic evaluation should
provide a better understanding of any potential of the remaining structures on
the Aquitaine Maritime Permit offshore France. Vermilion's net effective
capital exposure is estimated to be approximately $9.0 million, representing
less than 3% of projected 2007 cash flow, based on an expected gross well cost
of $55 million.
    The Orca prospect provided Vermilion's unitholders with significant
potential, while the capital risk exposure was effectively managed
commensurate with unitholders' expectations. The results of the Orca 1 well
will have no impact on Vermilion's operations, its strong balance sheet or its
ability to maintain its strategic direction including the current capital
program and distributions.
    Vermilion Energy Trust focuses on the acquisition, development and
optimization of mature producing properties in Western Canada, Western Europe
and Australia. Vermilion achieves value creation through the execution of
asset optimization programs and strategic acquisitions. Vermilion also exposes
its unitholders to significant upside opportunities while limiting capital
risk. Management and directors of the Trust hold approximately 9% of the
outstanding units and are dedicated to consistently delivering superior
rewards for all its stakeholders. Vermilion Energy Trust trades on the Toronto
Stock Exchange under the symbol VET.UN.


    This press release contains forward-looking financial and operational
information including future drilling plans. These statements are based on the
Trust's current expectations and are subject to a number of risks and
uncertainties that could materially affect the results. These risks include,
but are not limited to, future commodity prices, exchange rates, interest
rates, geological risk, reserves risk, production demand and transportation
restrictions, risks associated with changes in tax, royalty and regulatory
regimes and risks associated with international activities. Additional risks
and uncertainties are described in the Trust's Annual Information Form which
is filed on SEDAR at
    Due to the risks, uncertainties and assumptions inherent in
forward-looking statements, prospective investors in the Trust's securities
should not place undue reliance on these forward-looking statements. Forward
looking statements contained in this press release are made as of the date
hereof and are subject to change. The Trust assumes no obligation to revise or
update forward looking statements to reflect new circumstances, except as
required by law.

    %SEDAR: 00018945E

For further information:

For further information: Paul Beique, Director, Investor Relations,
2800, 400 - 4th Avenue S.W., Calgary, Alberta, T2P 0J4, Phone: (403) 269-4884,
Fax: (403) 264-6306, IR Toll Free: 1-866-895-8101,

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