I think it’s more like $60m as a break even when you think about the capital raise of $20m that was done which largely funded blackspur wells too.
if it was a black spur only sale - I would think this needs to be at least $120m to make it worthwhile. Capital return plus 100% for the risk of taking on an essentially bankrupt black spur back when oil price was closer to $30
im sincerely hoping this is a 100% acquisition at 30c
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I think it’s more like $60m as a break even when you think about...
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