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Jan 31, 2004

Letter from a CEO

Every time I check to see what EnCana shares are trading at, I ask myself, Is the price an accurate reflection of the underlying value and future potential of our company?

Every time I check to see what EnCana shares are trading at, I ask myself, Is the price an accurate reflection of the underlying value and future potential of our company? Like many CEOs, I'm prone to believing there's a gap between our current stock price and our real value. But I don't spend much time concerned about our day-to-day stock price, or fret over short-term fluctuations. Rather, my prime function at the company is to increase the long-term intrinsic value of EnCana shares. My

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