May 2008

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EnCana (ECA) is basically a Canadian natural gas producer with large holdings of oil sands in Alberta, Canada. They also have a large US operation and an integrated oil business with Conoco Phillips (COP). On Sunday, May 11, 2008, ECA announced their plans to split the company into two parts - pure play natural gas company and an separate oil company. Wall Street went ecstatic over the announcement and the stock immediately ascended to a new 52 week high on Monday. Anybody who is a somebody in the world of money wrote an article on EnCana, and the buzz, well, it buzzed!

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