UK's Rockhopper Exploration falls after arbitration annulment

Rockhopper Exploration

03/06/2025 13:43

** Shares of UK-based Rockhopper Exploration RKH.L down 10.3% at 46.8p

** The oil and gas explorer says Italy has successfully annulled the 190 million euros ($216.45 million) arbitration award previously granted to co in relation to Italy's breach of the Energy Charter Treaty

** Co will no longer receive tranche 2 payment as per the 2023 monetisation agreement from its arbitration against Italy

** Says balance sheet remains robust, having already received tranche 1 payment; intends to claim 31 million euros payout under insurance policy

** Including session gains, stock up ~78%

($1 = 0.8778 euros)

(Reporting by Nithyashree R B in Bengaluru)

((NithyashreeRB@thomsonreuters.com))