Canacol Energy up on raising core profit forecast
** Shares of Canada-based natural gas company Canacol Energy CNE.TO rise 2.07%to C$3.45
** CNE sees 2024 earnings before interest, taxes, depreciation and amortisation to be in the mid- to higher-range of its previously announced forecast of $250 mln-$290 mln; analysts estimate $244 mln - LSEG
** Expects 2024 natural gas and oil sales volumes to avg ~167 mln cubic feet equivalent per day
** Co adds it now expects to drill a total of 11 wells in 2024, with an estimated capital expenditure of $138 mln compared to analysts' estimates of $140.3 mln
** CNE had earlier forecast a capital expenditure in $138 mln-$151 mln range
** Including session's moves, stock is down 50.43% YTD
Reporting by Pooja Menon in Bengaluru
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