Exploration and Business Development

Through a service agreement with Lane Energy, ConocoPhillips is evaluating the shale gas potential of six licenses  (encompassing approximately 1.1 million gross acres) in northern Poland.

In 2010, the co-venturers drilled and evaluated two exploratory wells on two of the licenses. Further drilling and evaluation is planned for 2011.

ConocoPhillips holds an option, subject to satisfying certain terms and conditions, to assume a 70 percent working interest and operatorship in the licenses.