Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
FREDERICKSON PHILIP L
   2. Issuer Name and Ticker or Trading Symbol
CONOCOPHILLIPS [COP] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Executive Vice President
(Last)
(First)
(Middle)
600 NORTH DAIRY ASHFORD		 3. Date of Earliest Transaction (Month/Day/Year)
05/07/2007
(Street)

HOUSTON, TX 77079		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 05/07/2007   M   70,000 A $ 24.37 (2) 121,380 D  
Common Stock 05/07/2007   S   4,500 D $ 69.5 116,880 D  
Common Stock 05/07/2007   S   3,300 D $ 69.51 113,580 D  
Common Stock 05/07/2007   S   400 D $ 69.52 113,180 D  
Common Stock 05/07/2007   S   1,000 D $ 69.56 112,180 D  
Common Stock 05/07/2007   S   3,000 D $ 69.57 109,180 D  
Common Stock 05/07/2007   S   1,680 D $ 69.58 107,500 D  
Common Stock 05/07/2007   S   1,720 D $ 69.59 105,780 D  
Common Stock 05/07/2007   S   1,500 D $ 69.6 104,280 D  
Common Stock 05/07/2007   S   1,200 D $ 69.64 103,080 D  
Common Stock 05/07/2007   S   1,020 D $ 69.65 102,060 D  
Common Stock 05/07/2007   S   2,560 D $ 69.66 99,500 D  
Common Stock 05/07/2007   S   1,520 D $ 69.67 97,980 D  
Common Stock 05/07/2007   S   3,480 D $ 69.75 94,500 D  
Common Stock 05/07/2007   S   220 D $ 69.76 94,280 D  
Common Stock 05/07/2007   S   11,160 D $ 69.8 83,120 D  
Common Stock 05/07/2007   S   20 D $ 69.81 83,100 D  
Common Stock 05/07/2007   S   1,100 D $ 69.82 82,000 D  
Common Stock 05/07/2007   S   3,520 D $ 69.83 78,480 D  
Common Stock 05/07/2007   S   100 D $ 69.84 78,380 D  
Common Stock 05/07/2007   S   4,800 D $ 69.85 73,580 D  
Common Stock 05/07/2007   S   1,200 D $ 69.86 72,380 D  
Common Stock 05/07/2007   S   1,000 D $ 69.87 71,380 D  
Common Stock 05/07/2007   S   20,000 D $ 69.95 51,380 D  
Common Stock               558 I See footnote (1)
Common Stock               3,742 I By ConocoPhillips Savings Plan

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (right to buy) $ 24.37 (2) 05/07/2007   M     70,000   (3) 02/10/2013 Common Stock 70,000 $ 0 70,600 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
FREDERICKSON PHILIP L
600 NORTH DAIRY ASHFORD
HOUSTON, TX 77079		       Executive Vice President  

Signatures

 Nathan Murphy, Attorney-in-Fact (Power of Attorney filed with the Commission on 01/22/2007)   05/09/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes 278 shares and 280 shares held as custodian under the Uniform Gifts to Minors Act for the reporting person's minor son and daughter, respectively.
(2) On June 1, 2005, the common stock of the issuer split on a 2-for-1 basis by means of a 100% stock dividend payable to stockholders of record as of May 16, 2005. As a result, the exercise price and the number of shares that may be acquired upon exercise of the stock options as of the date of the transactions reported herein reflects the stock split.
(3) The stock options became exercisable in three equal annual installments beginning on February 10, 2004.

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