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Rockhopper Exploration, the oil and gas exploration company headquartered in Salisbury, Wiltshire, UK, has announced that it expects to recover significant monetary damages from the Republic of Italy, in relation to its Ombrina Mare Field.
The basis of the case comes down to loss of profits, as a result of Italys breach of the Energy Charter Treaty.
Further to the Company's announcement on 14 May 2021, the Tribunal has today said: The Tribunal has made significant progress and confirms that it should be in a position to complete its work in the course of July.
All costs associated with the arbitration are funded on a non-recourse basis from a specialist arbitration funder.
A further update will be provided in due course.
At 9:19am:
(LON:BOR) Borders Southern Petroleum PLC share price was 0p at 0.87p
(LON:CHAR) Chariot Oil Gas Ltd share price was 0p at 10.63p
(LON:ENQ) EnQuest Plc share price was 0p at 10.74p
(LON:GKP) Gulf Keystone Petroleum share price was 0p at 78.9p
(LON:INDI) Indus Gas Ltd share price was 0p at 198.5p
(LON:PET) Petrel Resources PLC share price was 0p at 3.4p
(LON:RKH) Rockhopper Exploration PLC share price was 0p at 6.2p