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• The geophysical logging data was carefully examined for density, porosity and water saturation in order to determine reservoir size, quality and deliverability.
• Cremer 1-1 was the second in a series of planned wells targeted on the Dansville.

• Farm-out of Luderitz Basin blocks to BP.
• Agreement reached with all partners and infrastructure owners to allow export via Lomond Field end 2014.
• Completed farm-out with BP for central Luderitz Basin blocks. Substantial value demonstrated.
• First quarter revenues of US$4.0 million

• The Cremer 1-1 is currently at a depth of approximately 4380 ft.

• The proposed settlement totals about $7.8 billion.

• BP has asked the court to postpone the trial.

• The new facility will be of one of the largest floating production systems to be installed in the Gulf of Mexico.
• The contract value has not been disclosed.

• Underlying replacement cost profit, adjusted for non-operating items and fair value accounting effects, was $4.8 billion for the quarter, compared to $5.0 billion in the previous quarter.
• During the quarter, BP made payments of $1.5 billion to the $20 billion Trust, including $250 million following settlement with Cameron.
• BP reported oil and gas production, excluding TNK-BP, in the first quarter of 2.45 million barrels of oil equivalent a day (boe/d).

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