There has been no word whether CEPSA is going forward or not in Block 11A . That is a fact. I believe CEPSA is in the process of kicking ERHC out of the block for failure to pay because they are allowed to do that per the Farmout agreement and JOA. Anyone who thinks that there are no ramifications for ERHC not paying the $4.5 million plus they owe CEPSA is not being realistic. And I also believe that is the reason for this delay. Hopefully we will find out more this week in the 10K.
I hope I am wrong but I expect to see that ERHC has not paid CEPSA, has not paid the IRS and has taken on even more convertible debt. None of that will be good news and I don't expect any good news any time soon. I also expect the share count to be in the 250 million to 400 million range as of end of November and double that by the end of December.
The perceived lack of interest is due mainly to restrictions here in attempts to discuss events and and likelihood of continuing drilling here and other ERHC owned leases. I'm buying again today.. (other friends are and have been buying this sure fire investment)...jmo.
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