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18:48
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Originally posted by ricky99:
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sort of, I'm still working through my thoughts but I think they quote a 22% decline rate somewhere but already they have dropped from 704 boe to 650, but in saying that the oil ratio as increased so that I'm guessing that the pressurized gas cap has been produced and the oil levels have stayed the same.
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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.
(20min delay)