Rockhopper Exploration ehemals FALKLAND OIL & GAS +++ 270% mit Öl (Seite 4)

[honigbaer]

Antwort auf Beitrag Nr.: 73.772.073 von Andrija am 02.05.23 19:55:47

Rockhopper "final results 2022", liest sich eher wie ein aktueller Statusbericht.
https://otp.tools.investis.com/clients/uk/rockhopperexplorat…

[Andrija]

Navitas ist offenbar weiter wild entschlossen:

https://ir.navitaspet.com/wp-content/uploads/2023/05/Navitas…

[Andrija]

RNS Number : 3684X Rockhopper Exploration plc 25 April 2023

The information contained within this Announcement is deemed by Rockhopper Exploration plc to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").

25 April 2023
Rockhopper Exploration plc

Update on Arbitration

Tribunal orders Rockhopper & Italy to mitigate the risk of non-recoupment by Italy with the anticipation of the Stay being lifted

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 Centre for Settlement of Investment Disputes ("ICSID") arbitration with the Republic of Italy.

As announced on 24 August 2022, the arbitration panel unanimously held that Italy had breached its obligations under the Energy Charter Treaty (the "Award") entitling Rockhopper to compensation of €190 million plus interest at EURIBOR + 4%, compounded annually from 29 January 2016 until time of payment (except the four-month period immediately following the date of the Award).

On 28 October 2022, Italy submitted an application to the ICSID seeking to annul the Award under Article 52 of the ICSID Convention. Italy also requested a provisional stay of the enforcement of the Award pursuant to Article 52(5) of the ICSID Convention. The provisional stay prevents Rockhopper from taking legal action to enforce the Award in any jurisdiction.

Following a hearing on 6 March 2023 the ad hoc Committee convened by ICSID to rule on the annulment has issued the following orders with regard to the provisional stay of enforcement:

1: that Italy and Rockhopper shall confer - in good faith and using their best efforts to cooperate and find an effective arrangement - for the mitigation of the risk of non-recoupment using a first-class international bank outside the European Union (or as Italy and Rockhopper otherwise agree) to be put into place in anticipation of the termination of the provisional stay of enforcement of the Award. This is to mitigate the perceived risk that, in the event the Award is annulled, Italy may not be able to recover Italian assets seized or frozen by Rockhopper (before the ad hoc Committee issues its decision on annulment) in court enforcement proceedings.

2: that Rockhopper shall, within 30 days of the date of the decision, apprise the Committee of arrangements agreed with Italy for the mitigation of the risk of non-recoupment or that negotiations have failed and, in the latter event, propose concrete arrangements in accordance with the decision for the mitigation of the risk of non-recoupment. Italy may then briefly comment on Rockhopper's proposal within 10 days, constructively highlighting any areas of disagreement between the Parties.

The provisional stay remains in force during this time, pending further order from the Committee.

The decision to lift the provisional stay of enforcement is unrelated to the merits of Italy's annulment request. A final hearing in relation to Italy's request to annul the Award is scheduled to take place in Q1 2024. Guidance given by Rockhopper in the Company's 31 October 2022 announcement that the entire annulment process is likely to take 18-24 months from that date remains in place. Rockhopper is currently paying all legal costs associated with the annulment.

Sam Moody, Chief Executive of Rockhopper Exploration, commented: "We welcome the pragmatic approach adopted by the ad hoc Committee and look forward to working with Italy to find a suitable outcome which will allow us to commence enforcement with no risk to Italy of non-recoupment pending the outcome of the annulment."

[Andrija]

Antwort auf Beitrag Nr.: 73.539.604 von honigbaer am 23.03.23 17:04:48

Hört sich insgesamt gut und glaubwürdig an.

[honigbaer]

Antwort auf Beitrag Nr.: 72.672.931 von Andrija am 01.11.22 17:11:46

Seelöwen und Ombrina Mare update
FID wird nun für 2024 erwartet, pre-first-oil Capex 1,3 Mrd USD, neue Resourcenschätzung.
https://rockhopperexploration.co.uk/investors/announcements/

Zu Ombrina Mare ICSID Verfahren:
"A final hearing in relation to Italy's request to annul the Award is scheduled to take place in Q1 2024. Guidance given by Rockhopper in the Company's 31 October 2022 announcement that the entire annulment process is likely to take 18-24 months from that date remains in place."

[honigbaer]

Antwort auf Beitrag Nr.: 72.672.931 von Andrija am 01.11.22 17:11:46

ICSID Verfahren
"Latest Development: January 10, 2023 - The ad hoc Committee holds a first session by video conference."
https://icsid.worldbank.org/cases/case-database/case-detail?…

[honigbaer]

Antwort auf Beitrag Nr.: 72.672.931 von Andrija am 01.11.22 17:11:46

Im ICSID Jahresbericht steht, con 2011 - 2020 habe es 225 gewonnene Verfahren gegeben, in den Annulierungsverfahren wurde 56 mal das Annulierungsverlangen abgelehnt, 7 mal bewilligt und 25 mal wurde das Annulierungsverfahren eingestellt ("dicontinued" - bedeutet vielleicht auch Vergleich zur Beendigung oder sowas??).
https://icsid.worldbank.org/resources/publications/icsid-ann…

Ich denke, Staaten, die zahlen können, bezahlen schon auch.
Nur bei Venezuela und dergleichen, muss man dann noch auf Erfüllung klagen.
Ich bin da aber kein Experte, grundsätzlich ein spannendes Themenfeld, wenn eine börsennotierte AG solche Ansprüche hat.

[Andrija]

Antwort auf Beitrag Nr.: 72.668.461 von honigbaer am 31.10.22 21:07:23

"Many ECT lawsuits, including those of Rockhopper and RWE, are being handled by the International Centre for Settlement of Investment Disputes (ICSID). If one state refuses to accept a judgment and pay compensation, its property may be confiscated in other states that accept ICSID rules. That is, investors can use the ECT to sue states in courts of arbitration and enforce compensation claims even after they have left the treaty. So a breach of contract is no way out of the ECT. What options do the EU and its member states have?"

Zumindest dieser Absatz Deines zweiten Links hört sich so an, als ob RKH in GB italienisches Eigentum beschlagnahmen könnte. Ich befürchte aber auch hier wird es Widerspruchsverfahren geben die Jahre dauern können. Gab es nach Deiner Erkenntnis nur einen einzigen Fall wo eine Entschädigung (insbesondere gegen den Willen des beklagten Staates) geflossen ist?

[honigbaer]

Zum Glück gibt es die ICSID Verfahren noch, es gibt ja Bestrebungen, diese Verfahren ganz abzuschaffen!
Zumindest innerhalb der EU. Und die Klimaaktivisten würden auch gerne alle Verfahren wegen fossiler Energie eliminieren.

Die EU kennt da nichts, Klimaschutz und Umweltaktivismus geht über Investitionssicherheit und Rechtsschutz.
https://www.ips-journal.eu/topics/economy-and-ecology/the-tr…
https://www.iisd.org/itn/en/2022/03/01/how-the-energy-charte…

[Andrija]

Antrag Italiens auf Aufhebung des ICSID-Schiedsspruchs

Schon ein komisches Rechtssystem bei dem nie klar wird ob man nun gewonnen hat und sich das Verfahren ständig verzögert. Nun ein Nichtigkeitsverfahren was voraussichtlich etwa 18 bis 24 Monate dauern wird und weiter Geld kostet. Keine Ahnung ob in diesem Schiedsverfahren dann auch mal Geld fließt und wie Italien zur Zahlung gezwungen werden kann. Die neue rechtsgerichtete Regierung macht die Lage sicher nicht besser.

https://rockhopperexploration.co.uk/2022/10/request-by-italy-for-annulment-of-icsid-award/