StockMarketWire.com - Oil company Rockhopper Exploration said it was still awaiting progress on its international arbitration case against Italy in relation to the Ombrina Mare field.

The tribunal had indicated that it expected to finish its work in July, but Rockhopper said it had yet to receive news of the outcome of the process.

'Rockhopper continues to believe 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,' it said.

'All of Rockhopper's costs associated with the arbitration to date have been funded on a non-recourse ('no win - no fee') basis from a specialist arbitration funder.'


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