ABERDEEN – July 7, 2008 – ConocoPhillips Petroleum Company U.K. Limited, Operator, and its co-venturers, Eni UK Limited and BG Group, today announced the results of the recent exploration and appraisal programme undertaken at the Jasmine field. The well, 30/6-7 and two geological sidetracks, 30/6-7Y and 30/6-7X, were 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 nine kilometres west of the Judy production platform.

The initial exploration wells (30/6-7 and 30/6-7Z) confirmed the presence of hydrocarbons in a separate structure to the northeast of the initial discovery well (30/6-6) which was drilled in 2006. Following a mechanical sidetrack a successful well test confirmed commercial flow rates.

A geological sidetrack (30/6-7Y) was drilled approximately two kilometres to the northwest of the initial discovery well (30/6-6). Successfully proving reservoir quality and continuity, this well provided increased confidence in the commercial viability of the Jasmine development.

The second geological sidetrack (30/6-7X) tested the lateral extent of the hydrocarbons discovered in the 30/6-7 and 30/6-7Z wells, however, the test did not encounter any hydrocarbons within the target horizons.

“This is an exciting discovery that builds on our exploration, development and production experience on the United Kingdom Continental shelf that spans over 40 years”, said Archie Kennedy, managing director of ConocoPhillips (U.K.) Limited.

The results from the initial and current exploration drilling and side-tracking programme will be integrated into the ongoing evaluation of potential development concepts. It is anticipated that the invitation to tender for the Front End Engineering and Design for Jasmine will be issued in July with contract award targeted for late 2008.

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

ConocoPhillips is an integrated international energy company with interests around the world. For more information, go to www.conocophillips.com

- # # # -
CONTACTS:
Kathleen Denholm (UK media) - (0)1224 205346
Sandra Ross (UK media) - (0)1224 205821

CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS
OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that contain projections about our revenues, income, earnings and other financial items, our plans and objectives for the future, future economic performance, or other projections or estimates about our assumptions relating to these types of statements. These statements usually relate to future events and anticipated revenues, earnings, business strategies, competitive position or other aspects of our operations or operating results. In many cases you can identify forward-looking statements by terminology such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target" and other similar words. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements are based on management's expectations, estimates and projections about ConocoPhillips and the petroleum industry in general on the date this statement was released. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Economic, business, competitive and regulatory factors that may affect ConocoPhillips' business are generally as set forth in ConocoPhillips' filings with the Securities and Exchange Commission (SEC). Unless legally required, ConocoPhillips undertakes no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.