ABERDEEN – 5 February, 2008 – ConocoPhillips Petroleum Company U.K. Limited, Operator, and its co-owners Eni UK Limited and BG Group, today announced a new exploration discovery in a structure adjacent to the Jasmine gas condensate field in the UK Central North Sea. The well, 30/6-7, was drilled using the drilling rig Ensco 102. The Jasmine field development straddles blocks 30/6 (P.011) and 30/7a (P.032) and is approximately five miles (nine kilometres) west of the Judy production platform.

The recent exploration well has confirmed the presence of hydrocarbons in a structure located to the north east of the Jasmine discovery well (30/6-6) which was drilled in 2006. Currently the well is preparing to undertake a flow test to gather dynamic information on the reservoir. Upon completion of flow testing, two delineation sidetracks will be drilled, the first to appraise the Jasmine field and the other to further delineate the new discovery.

The results from the exploration drilling, flow testing and side-tracking operations will be used to evaluate potential development concepts. It is anticipated that Jasmine will be tied back to the Judy production facility.

“This discovery is another step towards our strategy of prolonged and efficient production from the North Sea”, says Archie Kennedy, managing director of ConocoPhillips (U.K.) Limited. “It also clearly demonstrates that new opportunities remain in the UK Continental shelf.”

ConocoPhillips Petroleum Company U.K. Limited holds a participating interest of 36.5 per cent in the new discovery along with Eni UK Limited (33.0 per cent) and BG Group (30.5 per cent).

ConocoPhillips is an integrated energy company with interests around the world. Headquartered in Houston, Texas, the company has approximately 32,600 employees, $178 billion of assets, and $180 billion of annualised revenues as of September 30 to December 31, 2007. For information, go to www.conocophillips.com.
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