I don't think they are breaking the law. What I do believe is that CEPSA has no intention of disclosing results so ERHC can delay as long as they want without technically breaking any laws. The same thing happened in the JDZ. Sinopec never disclosed anything. ERHC finally disclosed months after Dana gas had aleady done so.
They are delaying repoeting so they can float more CDs, can get more salary and they can desperately search for any deal to stay alive.
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