Rockhopper Exploration Faces Setback with Annulled Arbitration Award

An announcement from Rockhopper Exploration ( (GB:RKH) ) is now available.

Rockhopper Exploration announced that the Republic of Italy has successfully annulled an arbitration award that had previously entitled the company to compensation. As a result, the Tranche 2 payment under the Monetisation Agreement will be zero. However, Rockhopper plans to claim under an insurance policy to secure a minimum of €31 million. The company is also in discussions with its specialist funder regarding future steps, while maintaining a robust balance sheet and focusing on finalizing funding for the Sea Lion project, which holds significant potential value.

The most recent analyst rating on (GB:RKH) stock is a Buy with a £30.00 price target. To see the full list of analyst forecasts on Rockhopper Exploration stock, see the GB:RKH Stock Forecast page.

More about Rockhopper Exploration

Rockhopper Exploration plc is an oil and gas company with significant interests in the North Falkland Basin. The company focuses on exploration and development within this region, aiming to capitalize on its hydrocarbon resources.

Average Trading Volume: 2,810,320

Technical Sentiment Signal: Buy

Current Market Cap: £336.1M

For a thorough assessment of RKH stock, go to TipRanks’ Stock Analysis page.