Rockhopper is a London Stock Exchange AIM listed oil and gas company based in the UK with interests in the Falkland Islands and Italy. Our strategy is to build a well-funded, full-cycle, exploration-led E&P company.
We hold a 35% working interest in various North Falkland Basin licences with independently audited 2C oil resources of over 500 million barrels. Navitas Petroleum, a Tel Aviv listed E&P, became Operator and 65% working interest holder in 2022. We benefit from two separate loans from Navitas in relation to this transaction. Sea Lion is a material oil field of huge potential value and significant additional upside exists in the Basin.
We also have legacy interests in Italy and an ICSID award in our favour against the Republic of Italy for €190 million plus interest in relation to the Ombrina Mare project. Italy is seeking to have this award annulled, a process which we anticipate should be resolved during 2024. We remain confident in our legal case.