EnCana completes US$500 million debt offering

Calgary, Alberta, (October 2, 2003) - EnCana Corporation (TSX, NYSE: ECA) has completed a public offering in the United States of US$500 million of 4.75 % Notes due October 15, 2013. The net proceeds of the offering will be used to repay existing floating-rate bank and commercial paper indebtedness. As at June 30, 2003, on a pro forma basis, taking into account this offering, approximately 58 percent of EnCana's outstanding debt was in U.S. dollars.

These debt securities are rated A- by Standard & Poor's, Baa1 by Moody's Investors Service and A (low) by Dominion Bond Rating Service.

The offering was made in the United States under EnCana's previously filed shelf registration statement for up to US$2 billion of debt securities. Citigroup and UBS Investment Bank acted as joint book-running and lead managers for the offering.

EnCana is one of the world's leading independent oil and gas companies. It has an enterprise value of approximately C$30 billion. EnCana common shares trade on the Toronto and New York stock exchanges under the symbol ECA.

Further information on EnCana Corporation is available on the company's Web site, www.encana.com, or by contacting:

Investor contact:
EnCana Corporate Development
Susan Grey
Analyst, Investor Relations
(403) 645-4751
Media contact:

Alan Boras
Manager, Media Relations
(403) 645-4747

ECA stock price

TSX $5.93 Can 0.23

NYSE $4.55 USD 0.19

As of 2019-07-19T16:00:00. Minimum 15 minute delay