Here is a part of a method of mine

FOR sub IN subs LOOP
billing_id_global := sub.billing_id;

IF (v_counter = max_trx_in) THEN
DBMS_OUTPUT.PUT_LINE(trx_hdr ||' '|| countstr ||' - commit point reached');
COMMIT;
v_counter := 0;
END IF;

IF (v_counter = 0) THEN
.........

END IF;

When I try to compile the method, I got the following error

Error(49,12): PL/SQL: SQL Statement ignored
Error(49,19): PL/SQL: ORA-02289: sequence does not exist

The very very confusing part is
Position (49,12) is the open bracket of line: "IF (v_counter = 0) THEN"
(49,19) is the letter "t" in the word counter....

What on earth is going on? I am going crazy!
The variable v_counter is declared earlier, and... If there is something wrong with declaration of this variable I would have have trouble on eariler line where I check for "(v_counter = max_trx_in)"

seriously... what is going on...