EnCana Moving Ahead with Buzzard Regulatory Process

EnCana is preparing to file a comprehensive Environmental Statement with the U.K. Department of Trade and Industry on its Buzzard oil development project in the central North Sea. The Buzzard field, located about 100 kilometers northeast of Aberdeen, Scotland, contains an estimated 180 million barrels of recoverable light oil net to EnCana.

Drilling of production wells is planned to commence in mid 2005 and first oil is expected to start flowing in 2006. Net production to EnCana is expected to be about 75,000 barrels per day when the project reaches plateau volumes in 2007. EnCana owns 45 and 35 percent of the two blocks where Buzzard is located.