EXHIBIT 99.45
                                                                   -------------


[GRAPHIC OMITTED]
[VERMILION ENERGY TRUST]


                                 PRESS RELEASE
            VERMILION ENERGY TRUST ANNOUNCES EXCHANGEABLE SHARE RATIO
                   FOR IMMEDIATE RELEASE - SEPTEMBER 15, 2003


Vermilion Energy Trust (VET.UN-TSX) is pleased to announce the increase to the
Exchange Ratio of the Exchangeable Shares of Vermilion Resources Ltd. from
1.08076 to 1.09317. The increase will be effective on September 15, 2003. A
"Notice of Retraction" must be received by Computershare by September 19, 2003
to receive this exchange ratio. All notices received after this date will
receive the exchange ratio to be determined on October 15, 2003

The following are the details used in the calculation of the Exchange ratio:


                                                                                     
Record Date of Vermilion Energy Trust Distribution                                      August 29, 2003
Opening Exchange Ratio                                                                  1.08076
Vermilion Energy Trust Distribution per Unit                                            $0.17

10-day Weighted Average Trading Price ("Current Market Price")                          $14.81072
(Including the Last Business Day Prior to the Distribution Payment Date)

Increase in the Exchange Ratio                                                          0.01241
Effective Date of the Increase in the Exchange Ratio                                    September 15, 2003
Exchange Ratio as of the Effective Date                                                 1.09317


The increase in the exchange ratio is calculated by multiplying the Vermilion
Energy Trust Distribution per Unit by the previous months exchange ratio and
dividing by the Current Market Price of VET.UN.

A holder of Vermilion Resources Ltd. Exchangeable Shares can exchange all or a
portion of their holdings at any time for Vermilion Trust Units by completing a
Retraction Request form. You can obtain a copy by contacting Computershare Trust
Company of Canada at (403) 267-6894.

For further information please contact:

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
info@vermilionenergy.com
www.vermilionenergy.com