It says that you have some minimal bulging to three discs, L2-3, L3-4 ,L4-5, and that there is some minimal touching of the ventral cord in the canal, that just means the front portion of the cord. They want you to have an injection , which usually is a cortisone injection to see if that helps reduce the pain.
A diffuse disc bulge means that that is wide, as in the circumference of the disc. Usually those are not problematic, although some people say they cause pain. A bulging disc is not necessarily a problem, since most of us have them unless they herniate or there are tears in the outside of the disc.