The only way ERHC has any leverage is if they actually pay the full amount they owe CEPSA. Otherwise they would be in default and, according to the JOA, CEPSA could just take ERHC'S interest in payment of the debt. And that is only if CEPSA even wants to stay. So, will CEPSA stay? And, if so, how will ERHC pay? If not, will ERHC be able to find another partner willing to step in. Either way ERHC has to pay somehow. So where will ERHC get the money to pay? I think the situation is far more dire than many will admit. Of course this could be a discovery which could solve the problem. But I doubt it. I simply don't see where ERHC has any leverage at all.
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