ERHC Energy Inc (ERHE)

[midtieroil]

Some more bad news I'm afraid. It looks like ERHC has to pay compound interest on their delinquency to CEPSA. The rate they must pay is the monthly LIBOR rate plus 1% which puts the interest rate at about 5%.

With ERHC owing CEPSA about 9 million dollars, the annual interest is about $450,000 per year or $37,500 per month. Just more money that ERHC doesn't have and can't pay.