To participate please dial 800 733-7560 toll-free in North America or 416 644-3414 approximately

To participate, please dial (800) 733-7560 (toll-free in North America) or (416) 644-3414 approximately 10 minutes prior to the conference call. In the quarter, EnCana invested $1.1 billion in capital on continued developmentof the company`s long-term production and refining assets - including the cokerand refinery expansion (CORE) project at the Wood River refinery in Illinois,expansion of upstream oil projects in northeast Alberta, development of the DeepPanuke natural gas project offshore Nova Scotia, and other long-term upstreamprojects with substantial future growth potential.CONFERENCE CALL TODAY11 a.m Mountain Time (1 p.m. The netproceeds of the offering were used to repay a portion of EnCana's existing bankand commercial paper indebtedness. The offering was made in the United Statesunder EnCana's previously filed shelf prospectus dated March 11, 2008 and aprospectus supplement dated April 29, 2009. On May 4, 2009, EnCana completed a public offering in the United States of $500million notes with an interest rate of 6.50 percent due on May 15, 2019. At June 30, 2009, the company`s debt to capitalization ratio was 27percent and debt to adjusted EBITDA, on a trailing 12-month basis, was 0.7times.

EnCana targets a debt to capitalizationratio of less than 40 percent and a debt to adjusted EBITDA ratio of less than2.0 times. At June 30, 2009, EnCana had $3.4 billion in unusedcommitted credit facilities. EnCana manages its financial strategy to achieve astrong investment grade credit rating. Upcoming debt maturities in 2009 are $250 million and in2010 are $200 million.

Financial strength EnCana has a very strong balance sheet, with 88 percent of EnCana`s outstandingdebt comprised of long-term, fixed-rate debt with an average remaining term ofmore than 13 years. The sale has an effective date of April1, 2009 and is subject to typical closing conditions and regulatory approvals.It is expected to close in the third quarter of 2009. Currentproduction on these lands is approximately 60 MMcfe/d, after royalties. Thetransaction includes properties known as the Hoadley trend which covers anexpansive area in west-central Alberta.

Total operating cost guidance has been reduced to$1.00 from $1.10 per Mcfe. Updated guidance and key resource play information isposted on the company`s website at EnCana sells non-core properties for $632 millionOn July 16, 2009, EnCana announced it had reached an agreement to sellapproximately 409,000 net acres of non-core natural gas and oil producingproperties for approximately $632 million to Bonavista Energy Trust. Guidance updatedEnCana has updated its 2009 guidance for total natural gas, oil and NGLsproduction to a range of 4.4 to 4.8 MMcfe/d from 4.5 to 4.7 MMcfe/d. EnCana hasalso updated its capital investment guidance from $6.1 billion to a range of$5.5 billion to $6 billion. "Plans for splitting EnCana into two independent companies, creating anintegrated oil company and a pure-play natural gas company, continue to beevaluated, but are currently on hold as market conditions continue to bevolatile," Eresman said. Corporate developments Quarterly dividend of 40 cents per share declaredEnCana`s Board of Directors has declared a quarterly dividend of 40 cents pershare payable on September 30, 2009 to common shareholders of record as ofSeptember 15, 2009. Based on the July 22, 2009 closing share price on the NewYork Stock Exchange of $52.57, this represents an annualized yield of about 3percent.

This price hedging strategy increases certainty in cashflow to help ensure that EnCana can meet its capital and dividend requirementswithout substantially adding to debt. EnCana continually assesses its hedgingneeds and the opportunities available prior to establishing its capital programfor the upcoming year. EnCana has also extended its risk management program through2010. As of July 21, 2009, EnCana had established fixed price hedges on morethan 45 percent of the company's expected 2010 natural gas production - or about2 Bcf/d - at an average NYMEX equivalent price of $6.09 per Mcf for the gasyear, which runs from November 1, 2009 to October 31, 2010. EnCana also has20,000 bbls/d of expected 2010 oil production hedged at an average fixed priceof WTI $76.45 per bbl. EnCana has hedged two-thirds of expected 2009 natural gas production, about 2.6Bcf/d, through October of this year at an average NYMEX equivalent price of$9.13 per Mcf. As a step in that direction, EnCana has started to convert a portionof its vehicle fleet to run on natural gas in select Canadian and U.S.