Ombrina Mare arbitration update

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. [phone] (via Vigo Consulting)

Canaccord Genuity Limited (NOMAD and Joint Broker)

Henry Fitzgerald-O'Connor/James Asensio

Tel. [phone]

Peel Hunt LLP (Joint Broker)

Richard Crichton

Tel. [phone]

Vigo Consulting

Patrick d'Ancona/Ben Simons

Tel. [phone]

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").

 

END

 

 

MSCEAFPAEEXFEAA