Rockhopper Exploration plc Ombrina Mare arbitration update (3269H)
August 03 2021 - 1:00AM
UK Regulatory
TIDMRKH
RNS Number : 3269H
Rockhopper Exploration plc
03 August 2021
3 August 2021
Rockhopper Exploration plc
("Rockhopper" or the "Company")
Ombrina Mare arbitration update
Rockhopper Exploration plc (AIM: RKH), the oil and gas company
with key interests in the North Falkland Basin, provides the
following update on its international arbitration against the
Republic of Italy in relation to the Ombrina Mare field.
Further to the Company's announcement of 2 July 2021 in which
Rockhopper reported that the Tribunal had informed the Company that
it expected to complete its work in July, the Company can confirm
it has yet to receive news of the outcome of the process.
Rockhopper continues to believe it has strong prospects of
recovering very significant monetary damages - on the basis of lost
profits - as a result of the Republic of Italy's breaches of the
Energy Charter Treaty. All of Rockhopper's costs associated with
the arbitration to date have been funded on a non-recourse ("no win
- no fee") basis from a specialist arbitration funder.
A further update will be provided in due course.
Enquiries:
Rockhopper Exploration plc
Sam Moody - Chief Executive Officer
Stewart MacDonald - Chief Financial Officer
Tel. +44 (0) 20 7390 0234 (via Vigo Consulting)
Canaccord Genuity Limited (NOMAD and Joint Broker)
Henry Fitzgerald-O'Connor/James Asensio
Tel. +44 (0) 20 7523 8000
Peel Hunt LLP (Joint Broker)
Richard Crichton
Tel. +44 (0) 20 7418 8900
Vigo Consulting
Patrick d'Ancona/Ben Simons
Tel. +44 (0) 20 7390 0234
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
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END
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