Encana commences consent solicitation

Mon Nov 5, 2012 6:14pm EST

* Reuters is not responsible for the content in this press release.

Encana Corporation (TSX:ECA) (NYSE:ECA) ("Encana") announced it has
commenced a consent solicitation to amend the indentures relating to its
8.125% Notes due 2030, 7.375% Notes due 2031, and 7.2% Notes due 2031
(collectively, "the Notes"). The purpose of the consent solicitation is
to amend certain definitions to reflect Encana's adoption of U.S. GAAP
and to amend certain provisions to be more consistent with other
indentures executed by Encana. The proposed amendments to the indentures
are fully described in the Consent Solicitation Statement dated November
5, 2012 (the "Consent Solicitation Statement"). Holders of the Notes are
urged to read and carefully consider the information contained in the
Consent Solicitation Statement.

    The consent solicitation expires at 5:00 p.m., New York City time, on
November 16, 2012, unless otherwise extended by Encana (such time and
date, as they may be extended, the "Expiration Date"). Only holders of
record of the Notes as of 5:00 p.m., New York City time, on November 2,
2012 are eligible to deliver consents to the proposed amendments in the
consent solicitation.

    As described in the Consent Solicitation Statement, Encana will pay a
consent fee to each person shown on the records of the registrar for the
Notes as a holder at 5:00 p.m., New York City time, on November 2, 2012
who has properly delivered, and not revoked, a consent to a proposal by
the Expiration Date. Encana's obligation to accept consents and pay a
consent fee is subject to certain conditions as set out in the Consent
Solicitation Statement. 

    Wells Fargo Securities is acting as the Solicitation Agent for the
consent solicitation. D.F. King & Co., Inc. is acting as the Information
and Tabulation Agent. Questions concerning the terms of the consent
solicitation should be directed to Wells Fargo Securities at (866)
309-6316 (toll-free) or (704) 715-8341 (collect). Requests for assistance
in completing the consent form or requests for additional copies of the
consent solicitation statement, the consent form or other related
documents may be directed to D.F. King at (800) 758-5880 (toll-free) or
(212) 269-5550 (banks and brokers).

    Advisory: This news release is for informational purposes only and does
not constitute an offer to sell or the solicitation of an offer to buy
the Notes or any other security and shall not constitute an offer,
solicitation or sale in any jurisdiction in which, or to any persons to
whom, such offering, solicitation or sale would be unlawful. The consent
solicitation is being made solely pursuant to the Consent Solicitation
Statement dated November 5, 2012 and the accompanying consent form.

    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

    Further information on Encana Corporation is available on the company's
website, www.encana.com.

    Source: Encana Corporation

Encana Corporation
Ryder McRitchie
Vice-President, Investor Relations
(403) 645-2007

Encana Corporation
Lorna Klose
Manager, Investor Relations
(403) 645-6977

Encana Corporation
Jay Averill
Media Relations
(403) 645-4747

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