AIM-listed Rockhopper Exploration, the oil & gas company with key assets in the North Falkland Basin, has provided an update in respect of the insurance policy announced on 14th October 2024 and intended to protect against an unsuccessful outcome in the Ombrina Mare ICSID arbitration.
Following the annulment of the award by the ad hoc Panel, as announced on 3rd June 2025, Rockhopper submitted claims and statements of loss under the terms of the insurance policy.
The lead insurer has confirmed that the loss has been triggered and, as a result, Rockhopper is therefore confident it will receive the full €31 million amount to which it is entitled under the policy. The Company will make a further announcement once the funds are received.
Rockhopper intends to submit a new request for arbitration and is in discussion with the new funder (announced on 20 December 2023) with regard to the timing of this new request. A further release will be made as and when appropriate.
Source: Rockhopper Exploration
