blackspur started from scratch so they did very well but I'm quite sure they came unstuck with debt when oil price tanked. this was a common occurrence and no one predicted it. now they , as in calima , are well capitalised and hedge the capex in the event oil tanks. risk is covered which it wasn't previously. free cash flow is being generated after capex which is great. when capex comes off a bit we will still have wells pumping and producing oil. free cash flow will only increase.
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