Technology has moved on in great leaps and bounds, allowing for...

Technology has moved on in great leaps and bounds, allowing for example, deep water development.
for the same reasons, competing energy sources have also developed.
there are large bets being made right now on competing energy sources, that, for a century were the domain of O&G.

Higher risk operations, (and associated higher costs), in a decreasing market are not, strategically speaking, the best ways of increasing wealth.

Doesn't mean I don't hold FAR.
I believe a level of conservatism exists in O&G reporting, if for no other reason then that of keeping lawyers employed. I do not have the data at hand to prove or disprove this statement, but disclosure must stick to the facts garnished, or much wasted effort goes on to prove who is more right or wrong in court.

Surely, If COP choose to exit, then they will wish to do so in a manner that provides best value to their shareholders?

let's see what the next 12months brings. New data, new P #'s, new levels of sentiment and confidence.