Vermilion Energy Trust Closes Agreement to Acquire Working Interest in Corrib Field in Ireland

CALGARY, Alberta--(Business Wire)--
Vermilion Energy Trust ("Vermilion" or the "Trust") (VET.UN - TSX) announces
that it has completed its previously announced agreement to acquire Marathon Oil
Corporation`s ("Marathon") 18.5% non-operated interest in the Corrib field
located approximately 83 kilometres off the northwest coast of Ireland. On
closing, Vermilion paid US$100 million to Marathon and will pay an additional
future payment, the amount of which will vary from approximately US$300 million
to US$135 million depending on the date when first commercial gas (`first gas`)
from the field is achieved. Pursuant to the agreement, Vermilion will assume its
share of future capital expenditure obligations in order to reach first gas.
Beginning at the effective date of January 1, 2009, these costs are anticipated
to range up to US$300 million net to the acquired interest.

The Corrib field is expected to produce gross volumes in excess of 300 million
cubic feet per day of natural gas for a period of two to four years before
experiencing natural declines of 20%. Net production to Vermilion is initially
anticipated at approximately 9,000 boe/d. The Corrib asset will further enhance
Vermilion`s global asset base and is anticipated to deliver strong, accretive
returns.

Once on-stream, the production from Corrib is expected to increase Vermilion`s
total annualized production by approximately 30% and generate significant
operating cash flow. This acquisition positions Vermilion well for an eventual
conversion to a corporation and the execution of its 2010 to 2015 strategic
plan. The Corrib transaction also fits well with Vermilion`s European strategy
and will provide Vermilion with another strong foothold in attractive European
energy markets and a path of identifiable growth over the next few years. With
Corrib, Vermilion`s European operation is anticipated to produce in excess of
20,000 boe per day of high netback light sweet oil and natural gas.

The Corrib gas field is forecast to supply up to 60% of Ireland`s gas at peak
supply. In addition, construction of the project has created significant
employment opportunities, and will ultimately result in the creation of 130 full
time jobs. Vermilion is pleased to be joining the Corrib consortium and is
committed to being a key contributor to Ireland`s oil and gas industry over the
long-term.

About Vermilion

Vermilion adheres to a value creation strategy through the execution of asset
optimization programs and strategic acquisitions, and focuses on the development
and optimization of mature producing properties in Western Canada, Western
Europe and Australia. Vermilion also exposes its unitholders to significant
upside opportunities through a combination of equity sponsorship in new ventures
and managed participation in high impact projects. 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.

FORWARD-LOOKING INFORMATION

This press release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words "expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and
similar expressions are intended to identify forward-looking information or
statements.More particularly and without limitation, this press release contains
forward-looking statements and information concerning the timing of the making
of and the conditions to completion of the Offer, potential additional reserves,
anticipated levels of natural gas production, future capital costs, future
natural gas prices and netbacks.

The forward-looking statements and information are based on certain key
expectations and assumptions made by Vermilion including expectations and
assumptions concerning the timing and amount of future payments to Marathon, the
timing of the completion of required production facilities, future capital costs
and natural gas prices, potential additional reserves and netbacks.Although
Vermilion believes that the expectations and assumptions on which such
forward-looking statements and information are based are reasonable, undue
reliance should not be placed on the forward-looking statements and information
because Vermilion can give no assurance that they will prove to be correct.

Since forward-looking statements and information address future events and
conditions, by their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a
number of factors and risks.Accordingly, readers should not place undue reliance
on the forward-looking statements and information contained in this material
change report concerning these times.

The forward-looking statements and information contained in this press release
are made as of the date hereof and Vermilion undertakes no obligation to update
publicly or revise any forward-looking statements or information, whether as a
result of new information, future events or otherwise, unless so required by
applicable securities laws.

BOE`s may be misleading, particularly if used in isolation on an energy
equivalency conversion method primarily applicable at the burner tip and does
not represent a value equivalency at the well head.

Vermilion Energy Trust
Lorenzo Donadeo, President & CEO
Curtis W. Hicks, C.A., Executive VP & CFO
and/or
Paul Beique, Vice President Capital Markets
TEL (403) 269-4884
TOLL FREE 1-866-895-8101
investor_relations@vermilionenergy.com
www.vermilionenergy.com

Copyright Business Wire 2009