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Madalena Searching for Operations Capital in 2016
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Madalena Energy Inc., has provided selected financial and operational information for the three months and year ended December 31, 2015.
2016 OUTLOOK This has resulted in liquidity challenges and unless the Company is able to raise additional capital or renegotiate its commitments, it does not expect that forecasted cash flows from operating activities will be sufficient to meet its anticipated 2016 and 2017 capital commitments. The Company is examining alternative sources of capital, including potential debt and equity financing and ways to monetize its assets, including, without limitation, asset sales or swaps, joint ventures or other transactions with industry partners, all with a view to enhancing liquidity and meeting commitments. The need to raise capital or defer expenditures to…- ✓ Full news archive — U.S., Canada & international coverage
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