A few comments from the Conoco earnings call transcript. With...

A few comments from the Conoco earnings call transcript. With the Americans being  somewhat bias, the  focus of leaving deep water drilling  appears to be more directed to the Gulf of Mexico, as this region sits in their own backyard. Angola has been brushed under the carpet with no mention to the hundreds of millions wasted.  Senegal seems to be very hidden in their agenda, with no mention of the countries name what so ever, just hinted on perhaps. It just depends to which way you perceive the following comments.
1.

Matt Fox - ConocoPhillips - EVP, Exploration and Production
We have announced that we're going to be exiting deepwater exploration, although we do have quite a significant program that we're executing
next year. Development of the discoveries that we have in deepwater is quite some way off and we may choose to stay with those developments
but we may choose to exit before development happens there.
So really what we're in just now is a ramping down of exploration commitments and continuing appraisal on the existing discoveries. We're not at​

a development stage yet.
2.

Matt Fox - ConocoPhillips - EVP, Exploration and Production
In the Gulf we've got about 2.2 million acres in the Gulf and three existing discoveries and our intention is to not be doing deepwater exploration​

by 2017. And those acreage positions that we hold that we don't intend to drill we will be marketing those positions.
3.

Matt Fox - ConocoPhillips - EVP, Exploration and Production
Possibly but only if we get full value for it. We're willing to stay in our discoveries if that's what maximizes the value. But we haven't made a​

commitment to exit deepwater per se but it's the deepwater exploration but if we saw full value for those assets then we'd certainly consider that.
4.

Matt Fox - ConocoPhillips - EVP, Exploration and Production
Well I guess to give you a bit of a preview of the 2016 budget we expect to spend about $800 million in 2016 in the deepwater exploration and
appraisal space. And so that's the order of magnitude on the capital side that we wouldn't be spending if we weren't doing deepwater exploration
and appraisal for one year. And then there's G&G and G&A associated with that as well.​