Pieridae Energy (TSE:PEA) has released an update.
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Pieridae Energy has executed a significant strategic move by selling its Goldboro assets for $12 million, repaying a $24 million bridge loan, and completing a $4.5 million equity private placement. Despite challenging AECO gas prices, the company achieved a net operating income of $19.8 million in Q3 2024. The strategic decisions, including shutting in uneconomic production, aim to preserve long-term value for shareholders.
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