Encana Sells Coalbed Methane Assets to Toyota Tshusho

Encana Corporation (“Encana”) and Toyota Tsusho Wheatland Inc., a subsidiary of Toyota Tsusho Corporation (“Toyota”), entered into a joint venture whereby Toyota will invest $602 million to acquire a 32.5 per cent royalty interest in natural gas production from a portion of Encana's coalbed methane resource play in Horseshoe Canyon in southern Alberta. The agreement includes production from a total of approximately 5,500 existing wells and potential future drilling locations in southern Alberta.

Encana was represented by Burnet, Duckworth & Palmer LLP with a team that included John Cuthbertson, Mark Houston, Stuart Money and Hazel Saffery.

Toyota was represented by McCarthy Tétrault LLP with a team that included Craig Spurn, Keith Byblow and Chris McLelland and by Baker & McKenzie LLP with a team that included Louis Davis, Chris Besant, Jonathan Curth, Alan Diner, Cheryl Elliott, Arlan Gates, Nancy Hamzo, Grant Hannessian, Jeremy Hann, Alex Roberts, Lydia Salvi and Frank Spizzirri.