Encana Appoints Doug Suttles as President & CEO

Encana Appoints Doug Suttles as President & CEO 
CALGARY, ALBERTA -- (Marketwired) -- 06/11/13 -- Encana
Editors Note: There is a photo associated with this release. 
Encana announced today that its Board of Directors has appointed Doug
Suttles as its President & Chief Executive Officer and a director of
the company. 
Doug Suttles is a seasoned executive, with 30 years of oil and gas
leadership experience. He has led oil and gas businesses in numerous
countries and consistently delivered strong results. Most recently,
Doug has served as Chief Operating Officer, BP Exploration &
Production. He is a mechanical engineer and a 2008 recipient of the
University of Texas Mechanical Engineering Distinguished Alumni
"After an extensive global search, Doug stood out as the ideal
candidate to lead Encana into its next phase of growth and
development," says Clayton Woitas, Director and designated future
Chairman of the Board. "The Board is pleased he has chosen to take on
the role of President & CEO given his strategic leadership
capabilities, demonstrated communications skills, and track-record of
building strong organizations of similar size and scope."  
"I am excited to take the helm of one of North America's leading
energy producers," says Doug Suttles. "Encana has a reputation for
innovation and excellence, a tremendous set of assets, and dedicated
employees that I am honored to be a part of. Over the coming months,
I look forward to working with the entire organization as we shape a
strategy and plan that will grow shareholder value and unlock
Encana's full potential." 
A conference call will be held for the investment community today,
beginning at 9 a.m. MT (11 a.m. ET). To participate, please dial
(888) 231-8191 (toll-free in North America) or (647) 427-7450
approximately 10 minutes prior to the conference call. An archived
recording of the call will be available from approximately 2 p.m. ET
on June 11 until midnight June 18, 2013, by dialing (855) 859-2056 or
(416) 849-0833 and entering passcode 94439053. 
To listen to the webcast of the conference call visit
Clayton Woitas and Doug Suttles will also conduct a media roundtable
at approximately 10:30 a.m. MT at Encana's corporate head office, THE
BOW (500 Centre Street SE, Calgary). Media are asked to RSVP to
403-585-4570 or smacdonald@brooklinepr.com and to arrive no later
than 10:15 a.m. Due to the required check-in security process at THE
BOW, only registered media will be able to gain access to the
roundtable. Registration will take place in THE BOW lobby. 
Encana Corporation  
Encana is a leading North American energy producer that is focused on
growing its strong portfolio of diverse resource plays producing
natural gas, oil and natural gas liquids. By partnering with
employees, community organizations and other businesses, Encana
contributes to the strength and sustainability of the communities
where it operates. Encana common shares trade on the Toronto and New
York stock exchanges under the symbol ECA. 
providing Encana shareholders and potential investors with
information regarding Encana, including management's assessment of
Encana's and its subsidiaries' future plans and operations, certain
statements contained in this news release are forward-looking
statements or information within the meaning of applicable securities
legislation, collectively referred to herein as "forward-looking
statements". Forward-looking statements in this news release include,
but are not limited to: ability to reduce costs and increase
efficiencies and profitability, including the amounts of possible
general and administrative, indirect costs, and capital and operating
cost reductions; the anticipated timing of the implementation of cost
savings measures and the potential amount of such cost savings;
anticipated risk mitigation strategies; anticipated timing of further
announcements; expected amount of cash and cash equivalents by year
end; anticipated cash flow and the sources thereof; achieving 2013
Corporate Guidance, including having financial flexibility;
successful exploration and delineation of the company's emerging NGL
and oil plays; expected liquids production; future developments in
various emerging NGL and oil plays, including proving commerciality
of these plays; and potential changes to capital allocation and
improvements to capital and operating efficiency.  
Readers are cautioned not to place undue reliance on forward-looking
statements, as there can be no assurance that the plans, intentions
or expectations upon which they are based will occur. By their
nature, forward-looking statements involve numerous assumptions,
known and unknown risks and uncertainties, both general and specific,
that contribute to the possibility that the predictions, forecasts,
projections and other forward-looking statements will not occur,
which may cause the company's actual performance and financial
results in future periods to differ materially from any estimates or
projections of future performance or results expressed or implied by
such forward-looking statements.  
These assumptions, risks and uncertainties include, among other
things: volatility of, and assumptions regarding natural gas and
liquids prices, including substantial or extended decline of the same
and their adverse effect on the company's operations and financial
condition and the value and amount of its reserves; assumptions based
upon the company's current guidance; fluctuations in currency and
interest rates; risk that the company may not conclude divestitures
of certain assets or other transactions or receive amounts
contemplated under the transaction agreements (such transactions may
include third-party capital investments, farm-outs or partnerships,
which Encana may refer to from time to time as "partnerships" or
"joint ventures" and the funds received in respect thereof which
Encana may refer to from time to time as "proceeds", "deferred
purchase price" and/or "carry capital", regardless of the legal form)
as a result of various conditions not being met; product supply and
demand; market competition; risks inherent in the company's and its
subsidiaries' marketing operations, including credit risks;
imprecision of reserves estimates and estimates of recoverable
quantities of natural gas and liquids from resource plays and other
sources not currently classified as proved, probable or possible
reserves or economic contingent resources, including future net
revenue estimates; marketing margins; potential disruption or
unexpected technical difficulties in developing new facilities;
unexpected cost increases or technical difficulties in constructing
or modifying processing facilities;
risks associated with technology; the company's ability to acquire or
find additional reserves; hedging activities resulting in realized
and unrealized losses; business interruption and casualty losses;
risk of the company not operating all of its properties and assets;
counterparty risk; risk of downgrade in credit rating and its adverse
effects; liability for indemnification obligations to third parties;
variability of dividends to be paid; its ability to generate
sufficient cash flow from operations to meet its current and future
obligations; its ability to access external sources of debt and
equity capital; the timing and the costs of well and pipeline
construction; the company's ability to secure adequate product
transportation; changes in royalty, tax, environmental, greenhouse
gas, carbon, accounting and other laws or regulations or the
interpretations of such laws or regulations; political and economic
conditions in the countries in which the company operates; terrorist
threats; risks associated with existing and potential future lawsuits
and regulatory actions made against the company; risk arising from
price basis differential; risk arising from inability to enter into
attractive hedges to protect the company's capital program; and other
risks and uncertainties described from time to time in the reports
and filings made with securities regulatory authorities by Encana.  
Although Encana believes that the expectations represented by such
forward-looking statements are reasonable, there can be no assurance
that such expectations will prove to be correct. Readers are
cautioned that the foregoing list of important factors is not
exhaustive. In addition, assumptions relating to such forward-looking
statements generally include Encana's current expectations and
projections made in light of, and generally consistent with, its
historical experience and its perception of historical trends,
including the conversion of resources into reserves and production as
well as expectations regarding rates of advancement and innovation,
generally consistent with and informed by its past experience, all of
which are subject to the risk factors identified elsewhere in this
news release.  
Assumptions with respect to forward-looking information regarding
expanding Encana's oil and NGLs production and extraction volumes are
based on existing expansion of natural gas processing facilities in
areas where Encana operates and the continued expansion and
development of oil and NGL production from existing properties within
its asset portfolio.  
Forward-looking information respecting anticipated 2013 cash flow for
Encana is based upon, among other things, achieving average
production for 2013 of between 2.8 Bcf/d and 3.0 Bcf/d of natural gas
and 50,000 bbls/d to 60,000 bbls/d of liquids, commodity prices for
natural gas and liquids based on NYMEX $3.75 per Mcf and WTI of $95
per bbl, an estimated U.S./Canadian dollar foreign exchange rate of
$1.00 and a weighted average number of outstanding shares for Encana
of approximately 736 million.  
Furthermore, the forward-looking statements contained in this news
release are made as of the date hereof and, except as required by
law, Encana undertakes no obligation to update publicly or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. The forward-looking statements contained
in this news release are expressly qualified by this cautionary
Further information on Encana Corporation is available on the
company's website, www.encana.com. 
To view the photo associated with this release please visit the
following link: 
Source: Encana Corporation
Image Available: http://www.marketwire.com/library/20130610-DS-lg.jpg 
Investor Contact:
Encana Corporation
Lorna Klose
Manager, Investor Relations
(403) 645-6977 
Encana Corporation
Patti Posadowski
Advisor, Investor Relations
(403) 645-2252 
Encana Corporation
Jay Averill
Manager, Media Relations
(403) 645-4747
Media Contact:
Shauna MacDonald
Principal, Brookline Public Relations
(403) 538-5645, (403) 585-4570
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