As I understand this you just set the value for an empty feature in newConflict , you don't copy the feature.Can't you just use Append? I really depends in what conditions you want to copy the feature(is it selected? etc). Does feature.Shape not have contain location? I thought it was complete geometry.(lest assume we have declared IFeature feature and it is point feature, I will skip few things just to show you example)
IPoint point = (IPoint)feature.Shape;
//now you can get the x,y and z values from it
double x = point.X;
double y = point.Y;
double z = point.Z;
Use Append Class form DataManagementTools to append feature into new featurelayer(the attributes will be copied as well).tip - > it's easier to read the code this way:
if (newConflict.Fields.FindField(FieldName) != -1)
{
if (Value != null)
Feature.set_Value(newConflict.Fields.FindField(FieldName), Value);
else
Feature.set_Value(newConflict.Fields.FindField(FieldName), DBNull.Value);
}