Canacol Energy Ltd. (TSE:CNE) has released an update.
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Canacol Energy Ltd. has reassured stakeholders of its strong financial position, confirming compliance with debt covenants, debunking rumors about an inability to pay future coupons, and outlining measures to enhance liquidity, including a significant tax expense reduction and discontinuation of quarterly dividends. The company also highlighted a robust natural gas reserves base and projected a 6-22% rise in EBITDA for 2024, fueled by favorable market conditions in Colombia.
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