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Rockhopper Exploration PLC - oil & gas company with interests in the North Falkland Basin and Greater Mediterranean regions - On its international arbitration against the Republic of Italy in relation to the Ombrina Mare, the Tribunal provided the update that it "anticipates that it should be in a position to render its award in the course of July. The Tribunal will revert to the Parties towards the end of June to confirm this timeframe".
As a result, Rockhopper believes it has strong prospects of recovering very significant monetary damages on the basis of lost profits as a result of Italy's breaches of the Energy Charter Treaty.
Current stock price: 9.71 pence, up 14%
Year-to-date change: up 57%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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