Changing tune alot of dry gas Encana was US$17.49 when I posted my initial negative call on this on 1/16/2012.
Encana sure has tried to change its tune since then - just look at their latest corporate presentation. Now its all about growing liquids production (too little too late), whereas in their Nov. 2011 presentation it was all about their fantastic leverage to higher natural gas prices. They were caught flat footed, missed the boat. That they couldn't see such momentous developments in their own industry calls into question their competence. They lost thier COO.
The fact is, if natural gas prices don't seriously turn around before 2013 when their hedges run out, Encana will be finished. This is a leveraged dry gas play period. It is pathetic to see them talk about LNG as if that has any relevance to their ability to exist beyond 2013.
I suppose it is smart though to sell off assets to suckers - the Japanese always seem game to overpay.