EnCana - Major announcement tomorrow 1PM

[rmk]

This should be pretty interesting. I heard a rumour over a meal tonight that EnCana was acquired by Imperial Oil and others....

[broken_legs]

what?!


Edit: Tomorrow is Sunday?

[icecreamvan]

wut?

[rmk]

Originally posted by broken_legs
what?!


Edit: Tomorrow is Sunday?

Yeah, tomorrow the 11th.

I really stress that is a rumour... But they are announcing something at 1pm.

[benyl]

EnCana is or is nearly the highest value company in terms of Market Capitalization in Canada.

EnCana stock is at an all time high. It is worth $75 Billion. Not bad for a company with 6000 employees.

[Canmorite]

That will be a HUGE deal if they were acquired by Imperial. I don't think Imperial could manage that without some very creative financing structure.

[djayz]

if this is true itll be

[Melinda]

Hmm if they were making some huge announcement on a sunday (mother's day no less) don't you think we would have heard about it before your dinner rumor announcement on a car forum the saturday night before that? Was the source even remotely reliable?

[e36bmw///]

nm

[Canmorite]

Originally posted by e36bmw///
if that does happen, what does it mean for stock? up?

Depends what the offer is priced at.

[rmk]

Originally posted by Melinda
Hmm if they were making some huge announcement on a sunday (mother's day no less) don't you think we would have heard about it before your dinner rumor announcement on a car forum the saturday night before that? Was the source even remotely reliable?

Don't read into it so much. It is a RUMOUR.

Yeah, and no, they would not announce anything prior to tomorrow as the company is publically traded.

[HIDStop]

CNW Group Portfolio E-Mail


ENCANA CORPORATION

Transmitted by CNW Group on : May 10, 2008 17:45
EnCana Corporation to hold news media briefing and conference call on Sunday, May 11, 2008

CALGARY, May 10 /CNW/ - EnCana Corporation (TSX, NYSE: ECA) will hold a
news media briefing and conference call regarding a major announcement planned
for Sunday, May 11, 2008.

The news media briefing will be held at 1:00 p.m. MT (3:00 p.m. ET) in
Calgary's Telus Convention Centre, in the McLeod E1 room on the lower level of
the centre's south building. EnCana is planning to issue a news release midday
Sunday. Hosting the briefing will be EnCana President & Chief Executive
Officer Randy Eresman.

<<
-------------------------------------------------------------------------

[bspot]

I hope this isn't too major... I like my job right now

[badatusrnames]

Mothers day, I think the timing is significant. Breast cancer or some other womens cause support/donation??? Some sort of tie in to mothers day at least....

Otherwise, I'd assume they would wait until Monday. If it's important they would've made the announcement Saturday. I don't think otherwise that they would make a business announcement on a Sunday that also happens to be mothers day.

[DUBBED]

Originally posted by broken_legs
what?!


Edit: Tomorrow is Sunday?

So they can make the announcement before markets open on Monday, impact on share price is expected.

[Gainsbarre]

Originally posted by badatusrnames
Mothers day, I think the timing is significant. Breast cancer or some other womens cause support/donation??? Some sort of tie in to mothers day at least....

Agreed. My guess is that it's some kind of crummy PR announcement to improve the public's perception of the company. Drum it up as a "major announcement" so that it's covered by all media outlets.

EDIT: Hm...I noticed this (Investor Conference Call) a few minutes later -- Suggests that it might not just be a PR move after all

-------------------------------------------------------------------------
Investor Conference Call
------------------------

EnCana will hold a conference call and webcast for the investment
community the same day, Sunday, May 11, 2008, beginning at 2:30 p.m. MT
(4:30 p.m. ET). To participate, please dial (800) 930-1353 (toll-free
in North America) or (913) 312-1487 approximately 10 minutes prior to the
conference call. An archived recording of the call will be available from
approximately 6:30 p.m. MT on May 11, 2008 until 6:30 p.m. MT on May 16,
2008 by dialling (888) 203-1112 or (719) 457-0820 and entering access
code 6177234.

A live audio webcast of the conference call will also be available via
EnCana's website, www.encana.com, under Investor Relations. The webcast
will be archived for approximately 90 days.
-------------------------------------------------------------------------

EnCana Corporation

[FishPoo]

I would guess also possibly related to the Bow. They poured a lot of concrete....

[sputnik]

Originally posted by FishPoo
I would guess also possibly related to the Bow. They poured a lot of concrete....

EnCana doesn't own the Bow, they are only tenants.

[sputnik]

http://www.theglobeandmail.com/servl...y/WBstreetwise

Is EnCana about to split gas and oil sands?
Andrew Willis, today at 10:50 AM EDT


EnCana Corp. may announce a massive restructuring at a surprise press conference scheduled for Sunday afternoon.

There is speculation Sunday that EnCana chief executive officer Randy Eresman will split Canada's largest energy company in two, creating pure plays in natural gas and the Alberta oil sands. Reorganizing along these lines has been discussed at the board level in the past, and would garner postive reviews from the market.

EnCana is not commenting: Mr. Eresman is scheduled to hold a briefing in Calgary on Sunday at 3:00 PM eastern time.

There are also rumours that cash-heavy EnCana could announce an acquisition. Natural gas-focused Duvernay Oil is seen as a possible target, and the $3.3-billion company would fit neatly with EnCana's properties.

There is also a small possibility that a global energy company is contemplating a bid for EnCana, and Mr. Eresman's announcement Sunday is the beginning of a defensive campaign. Given EnCana's $64-billion market capitalization and strategic importance in the Canadian energy sector, a hostile takeover seems extremely unlikely.

[rmk]

EnCana to split into separate oil, gas companies
May 11, 2008


CALGARY, Alberta (Reuters) - EnCana Corp <ECA.TO>, Canada's biggest energy company, said on Sunday it plans to split itself into separate oil and natural gas companies in efforts to lift its value with crude prices at record highs.

EnCana, formed in a merger six years ago, said the oil-focused firm will operate its Alberta oil sands and U.S. refining assets, which its runs as part of a joint venture with ConocoPhillips <COP.N>. The entity will produce about a third of EnCana's current output.

The natural gas firm will operate all of the company's Canadian foothills and U.S. properties, which are located mainly in the Rocky Mountain states and Texas.