2011. In this annual information form - Encana

Pricing Assumptions (Forecast Prices)
The following pricing and exchange rate assumptions were utilized by the independent qualified reserves
evaluators in estimating Encana’s reserves data using forecast prices and costs. These assumptions were
provided by Encana, based on GLJ Petroleum Consultants Ltd. pricing information, and are the same pricing
assumptions used for the business case included in “Net Proved Reserves (U.S. Protocol)” in Appendix D in this
annual information form.
Year
Henry Hub
($/MMBtu)
Natural Gas
AECO
(C$/MMBtu)
WTI
($/bbl)
Oil and NGLs
Foreign
Exchange
Rate (2)
Inflation
Rate (3)
Edmonton (1)
(C$/bbl) US$/C$ %/yr
2011 (4,5) 4.04 3.67 95.11 95.56 1.01 3.0
2012 3.80 3.49 97.00 97.96 0.98 2.0
2013 4.50 4.13 100.00 101.02 0.98 2.0
2014 5.00 4.59 100.00 101.02 0.98 2.0
2015 5.50 5.05 100.00 101.02 0.98 2.0
2016 6.00 5.51 100.00 101.02 0.98 2.0
2017-2021 6.50 - 7.17 5.97 - 6.58 100.00 - 107.56 101.02 - 108.73 0.98 2.0
Thereafter: +2%/yr +2%/yr +2%/yr +2%/yr 0.98 2.0
Notes:
(1) Light Sweet at Edmonton.
(2) The exchange rates used to generate the Canadian benchmark reference prices in this table.
(3) Default cost inflation rate. Abnormal inflationary situations in certain regions are handled individually by directly increasing the cost estimates
for the years affected.
(4) Actual weighted average historical prices for 2011.
(5) Encana’s weighted average prices for 2011 excluding the impact of realized hedging were $4.18/Mcf for natural gas and $85.20/bbl for oil &
NGLs.
Encana Corporation
A-6
Canadian Protocol Reserves Disclosure
Annual Information Form (prepared in US$)