This is an arrangement of a falseta Paco de Lucia plays in Jerezana (on La Fabulosa Guitarra De Paco De Lucia). Melodically it moves between the C, Bb, and A chords, which makes it an easy fit most bulerias played por medio. Of course it is Paco we’re talking about, so there’s a lot that happens in between these changes.
As you’ll notice from the video, most of this falseta is played with thumb downstrokes and pull-offs/hammer-ons. Part of what makes this falseta particularly interesting is where this thumb melody starts: instead of on the 12 beat (i.e. beat 1, bar 9), it starts on the upbeat of count 1 (i.e. beat 2.5 of bar 9).
This phrasing is consistent throughout the falseta, so you’ll want to be sure that you’re counting the compás correctly from the start. If you were tapping your foot on the 12, 3, 6, 8, and 10, for instance, you would want to feel a footfall at beat 1 of bar 9, beat 1 of bar 10, beats 1 and 3 of bar 11, and beat 2 of bar 12.
This might seem baroquely complicated, but the falseta won’t work if it’s out of time (i.e. fuera de compás). For more info on counting/tapping buleria, see RF article "Foot Tapping for Bulerias." Also be sure to check out the RF buleria compás metronomes.