If that's true, then CEPSA can't see the forest for the trees and is so bureaucratic that their own red tape should cause ERHC to rethink them as a partner.
I think it's not the case that there's some hard and fast policy. The excuse about having time for internal people to do an analysis is just smoke and mirrors. I can't imagine that any manager worth his or her salt is sitting there going...yeah, let's give up millions of dollars in seismic investment and our ENTIRE percentage in a block that even Tullow thinks is worthwhile pursuing...because policy.
News 
Market Data 
Discover 
