Foster Creek

EnCana Corporation today completed its transaction to split into two energy companies: Cenovus Energy Inc., an integrated oil company and EnCana Corporation, a pure play natural gas company. On November 25, 2009 shareholders voted more than 99 percent in favour of the transaction and later that day the Court of Queen’s Bench of Alberta approved the transaction. Under the terms of the arrangement, common shareholders of EnCana will own one new EnCana common share (which will continue to be represented by existing EnCana common share certificates) and will receive one common share of Cenovus for each EnCana common share held on December 7, 2009, the anticipated distribution record date.

EnCana grew crude oil production during the six month period by 26 percent at Foster Creek and at Christina Lake production was 51,290 bbls/d. After reflecting the 50 percent contribution to the joint venture with ConocoPhillips, EnCana’s reported production from these two properties decreased 37 percent to 25,645 bbls/d.

Crude oil production grew 11 percent at Foster Creek and Christina Lake to 46,538 barrels per day (“bbls/d”). Production is ramping up from these two properties with current levels of about 55,000 bbls/d (about 27,500 bbls/d net to EnCana).