EXHIBIT 99.46 ------------- [GRAPHIC OMITTED] [LOGO - VERMILION ENERGY TRUST] PRESS RELEASE VERMILION ENERGY TRUST ANNOUNCES CASH DISTRIBUTION AUGUST 20, 2003 Vermilion Energy Trust (the "Trust") (VET.UN - TSX) is pleased to announce the cash distribution of $0.17 per trust unit payable on September 15, 2003 to all unitholders of record on August 29, 2003. The ex-distribution date for this payment is August 27, 2003. The Trust is an international energy trust that benefits from geographically diverse production. While 73% of production volumes come from high quality oil and gas reserves in Canada, the Trust also produces high-value, light oil in France. The Trust also holds a 72.2% interest in Aventura Energy Inc. a Trinidad based operation that provides capital appreciation potential for the Trust unitholders. The Trust's objective is to deliver stable distributions and maintain a strong balance sheet while reinvesting capital to maximize production and asset value for unitholders. Vermilion Energy Trust trades on The Toronto Stock Exchange under the symbol VET.UN. 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