Presentation slides and script (pdf, 2.6MB) | Investors - BP

First an update on the status of legal proceedings in the United States.ThefirstphaseoftheMDL2179trialcommencedonthe25 th of February in NewOrleans, focusing on the causes of the accident and allocation of fault among thedefendants, and ended on the 17 th of April. While the Court will ultimately decide, webelieve that the evidence showed the accident was the result of multiple causes,involving multiple parties.The second phase of the trial commenced on the 30 th of September, and completedjust 11 days ago on the 18 th of October. This phase involved two main issues –source control, including attempts to stop the flow of oil from the well, and thequantity of oil spilled into the Gulf of Mexico. As it did after the conclusion of Phase1, the Court has ordered post-trial briefings, which will be completed by the 24 th ofJanuary, 2014. Again, while the Court will ultimately decide, we believe that theevidence showed that BP mounted an extraordinary response, was neither negligentnor grossly negligent in its source control efforts, and the government’s flow rateestimates are substantially overstated.We do not know when the Court will issue a ruling on either Phase 1 or Phase 2issues.The penalty phase, in which the court will hear evidence regarding the penalty factorsset out in the Clean Water Act, will be the next phase of the trial. The USgovernment, BP, and Anadarko will be parties in this phase, and we anticipate that theCourt will schedule it sometime in 2014.18