EnCana Unaware Of Any Takeover Bid

EnCana Corporation has stated that it is not aware of any intention by any party to make an offer to purchase all of the issued and outstanding shares of EnCana, nor is EnCana in discussions with any party with respect to the purchase of its issued and outstanding shares.

The company's board of directors and management team believe that EnCana's continued independence is the best way to create long-term value for shareholders.

"When EnCana Chairman David O'Brien and I announced the creation of EnCana Corporation three and a half years ago, our vision was to build a flagship, Canadian-headquartered energy company that would be one of the strongest in our industry. The name EnCana was chosen from the words 'energy Canada'. Since that time, investors have realised a total shareholder return of approximately 200 percent as employees delivered top-tier production and reserves growth. EnCana has taken an important place in North American's energy supply, and has become a symbol of Canadian innovation and competitiveness." said Gwyn Morgan, EnCana's President & Chief Executive Officer.

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Posted 24/10/05

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