REG - Rockhopper Exp plc - Ombrina Mare Arbitration Update

Rockhopper ExplorationAnnouncement

31/03/2021 10:05

RNS Number : 1102U
  
Rockhopper Exploration plc
  
31 March 2021
  
 

31 March 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 24 December 2020, the Tribunal has today provided the following update: 
 
"The Tribunal's deliberations and the drafting process have both advanced very considerably. The Parties will receive regular updates as we draw this part of our work to a conclusion."
 
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 costs associated with the arbitration are 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 Communications)
 
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 Communications
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").
 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
  END
 
 
UPDEAPDFDSLFEEA