OREANDA-NEWS. May 29, 2014. Encana Corporation ("Encana") (TSX:ECA)(NYSE:ECA) announced that the number of common shares of PrairieSky Royalty Ltd. ("PrairieSky"), a wholly-owned subsidiary of Encana, that Encana proposes to sell in PrairieSky's initial public offering (the "Offering") has been increased to 52,000,000 common shares from 32,500,000 common shares, and the indicative offering price range has been increased to between USD 26.50 and USD 28.00 per common share from the previously announced indicative price range of USD 23.00 to USD 26.50 per common share. The Offering is being conducted by way of a secondary offering by Encana.

Completion of the Offering is subject to, and conditional upon, the receipt of all necessary approvals, including regulatory approvals. Final decisions regarding the Offering size and price, as well as closing of the Offering, is expected to occur in late May, 2014.

An amended and restated preliminary prospectus dated April 30, 2014 (the "Amended Prospectus") containing important information relating to these securities has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada. The Amended Prospectus is still subject to completion or amendment. Copies of the Amended Prospectus are available on SEDAR at http://www.sedar.com or from the underwriters named in the Amended Prospectus. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities until a receipt for the final prospectus has been issued.

The securities of PrairieSky have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, these securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or except pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of PrairieSky's shares in the United States.