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Encana Delivers on Its Targets in a Year of Change, Well Positioned for 2014

CALGARY, ALBERTA -- (Marketwired) -- 02/13/14 -- Encana Corporation (TSX:ECA)(NYSE:ECA) concluded 2013 by meeting or exceeding guidance on all of its key operating and financial metrics during a year in which it announced a new President & CEO and launched a bold change in its strategy. Solid results have already been achieved on primary themes of the strategy announced by the company in the fourth quarter, including significant year-over-year increases in liquids production and ending the year with strong cash flow and a strong balance sheet.

"The fourth quarter of 2013 was a transformational time for Encana. In a six-week window, we launched our new strategy, completed an organizational restructuring and announced our 2014 budget. These are significant accomplishments and I'm proud of the way our team performed during that time," says Doug Suttles, Encana's President & CEO. "We finished 2013 strong and we're well positioned to deliver on our priorities and objectives in 2014 with our new strategy very much underway."

Liquids output in the fourth quarter of 2013 averaged 66,000 barrels per day (bbls/d), an 82 percent increase when compared to the fourth quarter of 2012. Encana averaged 53,900 bbls/d of full-year liquids production, a 74 percent increase compared to 2012. Looking ahead to 2014, Encana forecasts a 30 percent year-over-year increase in total liquids production, offsetting a small decrease in forecasted natural gas production. With its focus being on the development of liquids such as light oil and condensate combined with lowering its cost structures, Encana believes the result will be higher margins and improved netbacks, in line with the company's stated objective to value profitability over production volumes.

Average natural gas production volumes for 2013 were 2,777 million cubic feet per day (MMcf/d), meeting the company's 2013 guidance. Natural gas production is expected to decline slightly in 2014 although forecasted liquids growth will keep production unchanged from 2013 levels on a total equivalency basis.

Encana reached its 2013 production and cash flow targets with total 2013 capital investment coming in at $2.7 billion, representing an approximately $400-million reduction relative to the original capital spending guidance set at the start of the year. The company finished the year reporting annual cash flow of approximately $2.6 billion or $3.50 per share, net earnings of $236 million or $0.32 per share and operating earnings of $802 million or $1.09 per share. For the fourth quarter of 2013, Encana recorded $677 million in cash flow or $0.91 per share and $226 million in operating earnings or $0.31 per share. The fourth-quarter net loss of $251 million was impacted by the result of the change in Encana's unrealized hedging position, a foreign exchange loss as well as higher administrative expense associated with the company's organizational restructuring. Encana ended the year with approximately $2.6 billion in cash and cash equivalents on its balance sheet.

"Hitting our 2013 targets while at the same time reducing our overall capital investment is a reflection of our focus on efficiency and profitability," says Suttles. "There's a sense of renewed energy across our business as we work collectively to become the leading North American resource play company."

Encana's updated 2014 guidance can be downloaded from http://www.encana.com/investors/financial/corporate-guidance.html.

Update on operations activity


--  Duvernay: Encana is moving into full resource play hub mode in the
    Kaybob area in the northern portion of the Duvernay, with the first
    multi-well pad underway with two of the eight planned wells on
    production. Drilling of the remaining six wells will be initiated in
    March after construction of the pad is completed. Moving into continuous
    operations on multi-well pads is a key step in delivering efficient
    development plans. Encana currently has five rigs running in the
    Duvernay and continues working towards commerciality in the southern
    Willesden Green area. 
--  Montney: Encana is currently running nine rigs as the company continues
    to focus development on the Montney's oil and liquids-rich areas.
    Encana's fifth multi-well oil pad in Gordondale has been completed. 
--  DJ Basin: Encana now has six rigs running in the DJ, up from two rigs
    last year, and continues to improve efficiencies. On its most recent
    well, the company set a record of approximately eight days from spud to
    rig release, down from the 13-day average in 2013. Encana also captured
    a 34 percent reduction in hydraulic fracturing costs over 2013. 
--  San Juan Basin: Encana has one rig running and realized strong
    production performance on its latest well with a 30-day initial
    production rate of approximately 450 bbls/d. The company continues to
    work with the Bureau of Land Management to streamline the permitting
    process to help with the acceleration of Encana's development in the
    play. 
--  Tuscaloosa Marine Shale: Encana currently has two rigs running in the
    play to advance its appraisal program. 
--  Full commercial production was achieved offshore Nova Scotia at the Deep
    Panuke gas field with the issuance of the Production Acceptance Notice
    in mid-December, with the platform producing at or near its full
    capacity of 300 MMcf/d since that time. 

Hedging position

As of December 31, 2013, Encana has hedged approximately 2,138 MMcf/d of expected 2014 production at an average price of $4.17 per thousand cubic feet (Mcf) and approximately 825 MMcf/d of expected 2015 production at an average price of $4.37 per Mcf. In addition, Encana has hedged approximately 9.5 thousand barrels per day (Mbbls/d) of expected 2014 oil production using WTI fixed price contracts at an average price of $94.19 per barrel (bbl).

Dividend declared

Encana's Board of Directors has declared a quarterly dividend of $0.07 cents per share payable on March 31, 2014 to common shareholders of record as of March 14, 2014.

For the dividend payable on March 31, 2014 (to holders of common shares as at March 14, 2014) and for all future dividends, Encana's Board of Directors has determined that all common shares distributed to participating shareholders pursuant to the company's dividend reinvestment plan (DRIP) will be issued from Encana's treasury without a discount unless otherwise announced by Encana by way of news release.


                                                                            
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                             Financial Summary                              
----------------------------------------------------------------------------
(for the period ended                                                       
 December 31)                                                               
($ millions, except per           Q4           Q4                           
 share amounts)                 2013         2012         2013         2012 
----------------------------------------------------------------------------
Cash flow(1)                     677          809        2,581        3,537 
 Per share diluted              0.91         1.10         3.50         4.80 
----------------------------------------------------------------------------
Operating earnings(1)            226          296          802          997 
 Per share diluted              0.31         0.40         1.09         1.35 
----------------------------------------------------------------------------
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                       Earnings Reconciliation Summary                      
----------------------------------------------------------------------------
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Net earnings (loss)             (251)         (80)         236       (2,794)
After tax (addition)                                                        
 deduction:                                                                 
 Unrealized hedging gain                                                    
  (loss)                        (209)         (72)        (232)      (1,002)
 Impairments                       -         (300)         (16)      (3,188)
 Non-operating foreign                                                      
  exchange gain (loss)          (124)         (66)        (282)          92 
 Income tax adjustments          (80)          62           28          307 
 Restructuring charges           (64)           -          (64)           - 
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Operating earnings(1)            226          296          802          997 
 Per share diluted              0.31         0.40         1.09         1.35 
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(1)   Cash flow and operating earnings are non-GAAP measures as defined in  
      Note 1.                                                               
                                                                            
                                                                            
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                             Production Summary                             
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(for the period                                                             
 ended December                                                             
 31)                                                                        
(After                  Q4        Q4                                        
 royalties)           2013      2012   % delta      2013      2012   % delta
----------------------------------------------------------------------------
Natural gas                                                                 
 (MMcf/d)            2,744     2,948        -7     2,777     2,981        -7
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Liquids                                                                     
 (Mbbls/d)            66.0      36.2        82      53.9      31.0        74
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                       Natural Gas and Liquids Prices                       
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                                 Q4 2013     Q4 2012        2013        2012
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Natural gas                                                                 
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NYMEX ($/MMBtu)                     3.60        3.40        3.65        2.79
Encana realized natural gas                                                 
 price(1)($/Mcf)                    4.34        5.02        4.09        4.82
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Oil and NGLs ($/bbl)                                                        
----------------------------------------------------------------------------
WTI                                97.46       88.22       97.97       94.21
Encana realized liquids                                                     
 price(1)                          67.01       66.65       67.75       75.12
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(1)   Realized prices include the impact of financial hedging.              

Reserves revisions reflect new strategic focus

The majority of revisions to reserves in 2013 (shown in the following tables) are a result of aligning future capital spending with the new strategy that Encana announced in November.

The Company's focused investment on five of its core oil and natural gas liquids-rich growth plays, resulted in (under U.S. protocols prepared in accordance with the requirements of the United States Securities and Exchange Commission (SEC)) Encana's proved natural gas reserves decreasing 11 percent to approximately 7.9 Tcf, due primarily to dry gas proved undeveloped (PUD) reserves reductions as the company transitions to a more balanced commodity portfolio. Proved liquids reserves increased 5 percent to approximately 220 MMbbls. Overall, Encana's proved reserves as at December 31, 2013 under U.S. protocols decreased 9 percent to approximately 9.2 Tcfe.


                                                                           
---------------------------------------------------------------------------
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    2013 Proved Reserves Estimates - United States SEC Protocols (After    
                                 Royalties)                                
---------------------------------------------------------------------------
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Using constant prices and        Natural Gas        Liquids          Total 
 costs; simplified table.              (Bcf)       (MMbbls)         (Tcfe) 
---------------------------------------------------------------------------
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December 31, 2012                      8,792          210.0           10.1 
Extensions & Discoveries                 981           55.8            1.3 
Revisions                               (618)         (24.3)          (0.8)
Acquisitions                               7            0.6              - 
Divestitures                            (296)          (1.6)          (0.3)
Production                            (1,014)         (19.7)          (1.1)
---------------------------------------------------------------------------
December 31, 2013                      7,852          220.8            9.2 
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On a Canadian protocol basis, Encana's new strategy resulted in the reclassification of PUD reserves to either probable reserves or contingent resources. The bulk of the changes to reserve estimates are due to the timing of funding decisions made by Encana and not a reflection of the performance or quality of the reserves. PUDs account for approximately 36 percent of total proved reserves, an 11 percentage point decrease from year-end 2012 reflecting the company transitioning to a more balanced commodity portfolio. All of the PUDs at December 31, 2013 are scheduled for development within five years.


                                                                            
----------------------------------------------------------------------------
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   2013 Proved Reserves Estimates - Canadian Protocols (After Royalties)    
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Using forecast prices and         Natural Gas        Liquids          Total 
 costs; simplified table.               (Bcf)       (MMbbls)         (Tcfe) 
----------------------------------------------------------------------------
December 31, 2012                      11,617          240.4           13.1 
Extensions & Discoveries                  772           49.7            1.1 
Revisions                              (2,316)         (33.6)          (2.6)
Acquisitions                                8            0.7              - 
Divestitures                             (491)          (2.6)          (0.5)
Production                             (1,014)         (19.7)          (1.1)
----------------------------------------------------------------------------
December 31, 2013                       8,576          234.9           10.0 
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Encana has focused its reserves disclosure on proved reserves based on a forecast or business case basis. In 2010, the company expanded how it reports on its estimates of reserves and resources and published estimates of proved, probable and possible reserves as well as all categories of economic contingent resources. Economic contingent resources fall into three categories: low estimate (1C), best estimate (2C) and high estimate (3C). The three classifications of contingent resources have the same degree of technical certainty as the corresponding reserves categories. In determining their economic viability, the same commodity price assumptions are applied as estimating proved, probable and possible reserves. Contingent resources are not yet commercial due to contingencies such as the timing and pace of development, or the need for additional infrastructure. The low estimate is the most conservative category and carries with it the greatest degree of confidence-90 percent-that these resources will be recovered.


                                                                            
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               Reserves and Resources (Tcfe, After Royalties)               
----------------------------------------------------------------------------
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                                             Estimated Economic Contingent  
                       Estimated Reserves               Reserves            
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Using                                    3P                                 
 forecast                     2P   Proved +                                 
 prices            1P   Proved + Probable +     1C Low    2C Best    3C High
 and costs     Proved   Probable   Possible   Estimate   Estimate   Estimate
----------------------------------------------------------------------------
Total As                                                                    
 at Dec.         10.0       14.7       17.6       29.6       51.3       74.0
 31 2013                                                                    
----------------------------------------------------------------------------
Total As                                                                    
 at Dec.         13.1       20.7       24.3       25.4       45.4       69.8
 31 2012                                                                    
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For information on reserves reporting protocols see Note 2.

Conference call information

Encana will host a conference call today Thursday, February 13, 2014 starting at 7:00 a.m. MT (9:00 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 12:00 p.m. ET on February 13 until midnight on February 20, 2014 by dialing (855) 859-2056 or (416) 849-0833 and entering passcode 29851719. A live audio webcast of the conference call, including slides, will also be available at www.encana.com, in the Invest in Us section under Presentations & Events. The webcast will be archived for approximately 90 days.

Media are invited to participate in the call in a listen-only mode.

Follow Encana on Twitter @encana for updates during the company's 2013 fourth quarter and year-end conference call. President & CEO Doug Suttles also discusses the 2013 fourth quarter and year-end results in a new video posted at www.youtube.com/encana.

The unaudited interim Condensed Consolidated Financial Statements for the period ended December 31, 2013 are available at www.encana.com.

Encana Corporation

Encana Corporation ("Encana") is a leading North American energy producer that is focused on developing its strong portfolio of resource plays, held directly and indirectly through its subsidiaries, producing natural gas, oil and natural gas liquids (NGLs). 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.

Important Information

Encana reports in U.S. dollars unless otherwise noted. Production, sales and reserves estimates are reported on an after- royalties basis, unless otherwise noted. Per share amounts for cash flow and earnings are on a diluted basis. The term liquids is used to represent oil, NGLs and condensate. The term liquids-rich is used to represent natural gas streams with associated liquids volumes. Unless otherwise specified or the context otherwise requires, reference to Encana or to the company includes reference to subsidiaries of and partnership interests held by Encana Corporation and its subsidiaries.

NOTE 1: Non-GAAP measures

This news release contains references to non-GAAP measures as follows:


--  Cash flow is a non-GAAP measure defined as cash from operating
    activities excluding net change in other assets and liabilities, net
    change in non-cash working capital and cash tax on sale of assets. 
--  Operating earnings is a non-GAAP measure defined as net earnings
    excluding non-recurring or non-cash items that management believes
    reduces the comparability of the company's financial performance between
    periods. These after-tax items may include, but are not limited to,
    unrealized hedging gains/losses, impairments, restructuring charges,
    foreign exchange gains/losses, income taxes related to divestitures and
    adjustments to normalize the effect of income taxes calculated using the
    estimated annual effective tax rate. 

These measures have been described and presented in this news release in order to provide shareholders and potential investors with additional information regarding Encana's liquidity and its ability to generate funds to finance its operations.

NOTE 2: Reserves reporting information

Encana's disclosure of reserves data is in accordance with Canadian securities regulatory requirements. Encana's 2013 disclosure includes proved and probable reserves quantities before and after royalties employing forecast prices and costs in accordance with Canadian protocols. Reserves disclosure employing U.S. protocols uses SEC constant prices and costs on proved reserves on an after-royalties basis. Reserves disclosure under both Canadian and U.S. protocols will be available in the Annual Information Form, which the company anticipates filing later this month.

For all Canadian protocol reserves and economic contingent resources estimates highlighted in this news release, Encana has used Henry Hub forecast prices of $4.25 per MMBtu for 2014, $4.50 per MMBtu for 2015, $4.75 per MMBtu for 2016, $5.00 per MMBtu for 2017, $5.25 per MMBtu for 2018, then increasing to $5.97 per MMBtu by 2023 and escalating 2 percent per year thereafter. Encana has used WTI forecast prices of $97.50 per bbl for 2014 through 2019, then increasing to $104.57 per bbl by 2023 and escalating 2 percent per year thereafter.

RESERVES METRICS DEFINITIONS

Proved reserves added in 2014 included both developed and undeveloped quantities. Additions to and removals from Encana's PUD bookings were consistent with Encana's revised strategy. The company estimates that 100 percent of its PUDs will be developed within the next five years. Many performance measures exist; all measures have limitations and historical measures are not necessarily indicative of future performance.

ADVISORY REGARDING RESERVES & OTHER RESOURCES INFORMATION - Reserves are the estimated remaining quantities of oil and natural gas and related substances anticipated to be recoverable from known accumulations, from a given date forward, based on: analysis of drilling, geological, geophysical and engineering data, the use of established technology, and specified economic conditions, which are generally accepted as being reasonable. Proved reserves are those reserves which can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves. Probable reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves. Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. It is unlikely that the actual remaining quantities recovered will exceed the sum of the estimated proved plus probable plus possible reserves.

The estimates of economic contingent resources contained in this news release are based on definitions contained in the Canadian Oil and Gas Evaluation Handbook. Contingent resources do not constitute, and should not be confused with, reserves. Contingent resources are defined as those quantities of petroleum estimated, on a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Economic contingent resources are those contingent resources that are currently economically recoverable. In examining economic viability, the same fiscal conditions have been applied as in the estimation of reserves. There is a range of uncertainty of estimated recoverable volumes. A low estimate is considered to be a conservative estimate of the quantity that will actually be recovered. It is likely that the actual remaining quantities recovered will exceed the low estimate, which under probabilistic methodology reflects a 90 percent confidence level. A best estimate is considered to be a realistic estimate of the quantity that will actually be recovered. It is equally likely that the actual remaining quantities recovered will be greater or less than the best estimate, which under probabilistic methodology reflects a 50 percent confidence level. A high estimate is considered to be an optimistic estimate. It is unlikely that the actual remaining quantities recovered will exceed the high estimate, which under probabilistic methodology reflects a 10 percent confidence level.

There is no certainty that it will be commercially viable to produce any portion of the volumes currently classified as economic contingent resources. The primary contingencies which currently prevent the classification of Encana's disclosed economic contingent resources as reserves include the lack of a reasonable expectation that all internal and external approvals will be forthcoming and the lack of a documented intent to develop the resources within a reasonable time frame. Other commercial considerations that may preclude the classification of contingent resources as reserves include factors such as legal, environmental, political and regulatory matters or a lack of markets.

The estimates of various classes of reserves (proved, probable, possible) and of contingent resources (low, best, high) in this news release represent arithmetic sums of multiple estimates of such classes for different properties, which statistical principles indicate may be misleading as to volumes that may actually be recovered. Readers should give attention to the estimates of individual classes of reserves and contingent resources and appreciate the differing probabilities of recovery associated with each class.

Encana uses the term resource play. Resource play is a term used by Encana to describe an accumulation of hydrocarbons known to exist over a large areal expanse and/or thick vertical section, which when compared to a conventional play, typically has a lower geological and/or commercial development risk and lower average decline rate.

The practice of preparing production and reserve quantities data under Canadian disclosure requirements (National Instrument 51-101) differs from the disclosure under U.S. protocols prepared in accordance with the requirements of the SEC. The primary differences between the two reporting requirements include:


a.  the Canadian standards require disclosure of proved and probable
    reserves, while the U.S. standards require disclosure of only proved
    reserves; 
    
b.  the Canadian standards require the use of forecast prices in the
    estimation of reserves, while the U.S. standards require the use of 12-
    month average historical prices which are held constant; 
    
c.  the Canadian standards require disclosure of reserves on a gross (before
    royalties) and net (after royalties) basis, while the U.S standards
    require disclosure on a net (after royalties) basis; 
    
d.  the Canadian standards require disclosure of production on a gross
    (before royalties) basis, while the U.S. standards require disclosure on
    a net (after royalties) basis; 
    
e.  the Canadian standards require that reserves and other data be reported
    on a more granular product type basis than required by the U.S.
    standards; and 
    
f.  the Canadian standards require that proved undeveloped reserves be
    reviewed annually for retention or reclassification if development has
    not proceeded as previously planned, while the U.S. standards specify a
    five year limit after initial booking for the development of proved
    undeveloped reserves. 

30-day initial production and short-term rates are not necessarily indicative of long-term performance or of ultimate recovery.

In this news release, certain oil and NGLs volumes have been converted to cubic feet equivalent (cfe) on the basis of one barrel to six thousand cubic feet (Mcf). Cfe may be misleading, particularly if used in isolation. A conversion ratio of one bbl to six Mcf is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent value equivalency at the well head. Given that the value ratio based on the current price of oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

ADVISORY REGARDING FORWARD-LOOKING STATEMENTS - In the interests of 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: achieving the Company's focus of developing its strong portfolio of resource plays producing natural gas, oil and NGLs; the Company's disciplined capital investment plan and the success thereof; the successful implementation of the Company's new strategy; anticipated positioning to deliver on priorities and objectives in 2014; anticipated drilling and production and number of wells and the success thereof (including in the Duvernay, Montney, DJ Basin, San Juan Basin and Tuscaloosa Marine Shale areas); anticipated oil, natural gas and NGLs production in 2014 and beyond; expected accelerated development in certain of the high return assets; expected netbacks in 2014 and beyond; the Company's plan to maximize profitability through focused capital allocation and operating excellence; maintaining a balanced portfolio; maintaining capital discipline; anticipated cost reductions and the ability to preserve balance sheet strength; the Company's ability to capture new opportunities and its ability to fund the Company's activities in its five core growth areas; the Company's ability to generate funds to finance its operations and future growth; anticipated capital investment (including by product and plays); expected hedging activities; anticipated oil, natural gas and NGLs prices; anticipated dividends; potential future discounts to market price in connection with the Company's DRIP; the anticipated production from Deep Panuke; the success of implementing the resource play hub strategy across certain plays; plans for the Company to become a leading North American resource play company; estimated reserves and economic contingent resources, including estimates of PUDs, future development costs associated with PUDs and the expected period within which to convert PUDs to proved developed reserves; and the expectation of meeting the targets in the Company's 2014 corporate guidance.

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 2014 cash flow for Encana is based upon, among other things, achieving average production for 2014 of between 2.6 Bcf/d and 2.8 Bcf/d of natural gas and 70,000 bbls/d to 75,000 bbls/d of liquids, commodity prices for natural gas and liquids based on NYMEX $3.75 per MMBtu and WTI of $95 per bbl, an estimated U.S./Canadian dollar foreign exchange rate of $0.95 and a weighted average number of outstanding shares for Encana of approximately 741 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 statement.

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

SOURCE: Encana Corporation

Contacts:
Investor contact:
Lorna Klose
Manager, Investor Relations
(403) 645-6977

Patti Posadowski
Advisor, Investor Relations
(403) 645-2252

Brian Dutton
Advisor, Investor Relations
(403) 645-2285

Media contact:
Jay Averill
Media Relations
(403) 645-4747

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There will be 50 billion Internet connected devices by 2020. Today, every manufacturer has a propriety protocol and an app. How do we securely integrate these "things" into our lives and businesses in a way that we can easily control and manage? Even better, how do we integrate these "things" so that they control and manage each other so our lives become more convenient or our businesses become more profitable and/or safe? We have heard that the best interface is no interface. In his session at Internet of @ThingsExpo, Chris Matthieu, Co-Founder & CTO at Octoblu, Inc., will discuss how these devices generate enough data to learn our behaviors and simplify/improve our lives. What if we could connect everything to everything? I'm not only talking about connecting things to things but also systems, cloud services, and people. Add in a little machine learning and artificial intelligence and now we have something interesting...
Last week, while in San Francisco, I used the Uber app and service four times. All four experiences were great, although one of the drivers stopped for 30 seconds and then left as I was walking up to the car. He must have realized I was a blogger. None the less, the next car was just a minute away and I suffered no pain. In this article, my colleague, Ved Sen, Global Head, Advisory Services Social, Mobile and Sensors at Cognizant shares his experiences and insights.
We are reaching the end of the beginning with WebRTC and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) irreversibly encoded. In his session at Internet of @ThingsExpo, Peter Dunkley, Technical Director at Acision, will look at how this identity problem can be solved and discuss ways to use existing web identities for real-time communication.
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT. Attendees will learn real-world benefits of WebRTC and explore future possibilities, as WebRTC and IoT intersect to improve customer service.
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at Internet of @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, will share some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, an Open Source Cloud Communications company that helps the shift from legacy IN/SS7 telco networks to IP-based cloud comms. An early investor in multiple start-ups, he still finds time to code for his companies and contribute to open source projects.
The Internet of Things (IoT) promises to create new business models as significant as those that were inspired by the Internet and the smartphone 20 and 10 years ago. What business, social and practical implications will this phenomenon bring? That's the subject of "Monetizing the Internet of Things: Perspectives from the Front Lines," an e-book released today and available free of charge from Aria Systems, the leading innovator in recurring revenue management.
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges.
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other machines.
All major researchers estimate there will be tens of billions devices – computers, smartphones, tablets, and sensors – connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be!
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice services to the modern P2P RTC era of OTT cloud assisted services.
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehension and conference efficiency.
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, will discuss single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example to explain some of these concepts including when to use different storage models.
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridstore delivers vmOptimized™ Storage that self-optimizes to each application or VM across both virtual and physical environments. Leveraging a grid architecture, Gridstore delivers the first end-to-end storage QoS to ensure the most important App or VM performance is never compromised. The storage grid, that uses Gridstore’s performance optimized nodes or capacity optimized nodes, starts with as few a...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace. These technological reforms have not only changed computers and smartphones, but are also changing the data processing model for all information devices. In particular, in the area known as M2M (Machine-To-Machine), there are great expectations that information with a new type of value can be produced using a variety of devices and sensors saving/sharing data via the network and through large-scale cloud-type data processing. This consortium believes that attaching a huge number of devic...
Innodisk is a service-driven provider of industrial embedded flash and DRAM storage products and technologies, with a focus on the enterprise, industrial, aerospace, and defense industries. Innodisk is dedicated to serving their customers and business partners. Quality is vitally important when it comes to industrial embedded flash and DRAM storage products. That’s why Innodisk manufactures all of their products in their own purpose-built memory production facility. In fact, they designed and built their production center to maximize manufacturing efficiency and guarantee the highest quality of our products.
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. Download Slide Deck: ▸ Here
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. Over the summer Gartner released its much anticipated annual Hype Cycle report and the big news is that Internet of Things has now replaced Big Data as the most hyped technology. Indeed, we're hearing more and more about this fascinating new technological paradigm. Every other IT news item seems to be about IoT and its implications on the future of digital business.
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
With the iCloud scandal seemingly in its past, Apple announced new iPhones, updates to iPad and MacBook as well as news on OSX Yosemite. Although consumers will have to wait to get their hands on some of that new stuff, what they can get is the latest release of iOS 8 that Apple made available for most in-market iPhones and iPads. Originally announced at WWDC (Apple’s annual developers conference) in June, iOS 8 seems to spearhead Apple’s newfound focus upon greater integration of their products into everyday tasks, cross-platform mobility and self-monitoring. Before you update your device, here is a look at some of the new features and things you may want to consider from a mobile security perspective.