1. Proportionately, how has EnCana financed assets in the past? In other words, what is EnCana's past capital structure as it appears on its balance sheet? Exhibit 1 ENCANA CORPORATION BALANCE SHEET AS OF DECEMBER 31, 2005 (S MILLIONS) ASSETS $ 3,604 24,881 3,139 2,524 $ 34,148 Current assets: Capital assets, net Other assets Goodwill TOTAL ASSETS LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued liabilities Short-term obligations Income tax payable Other current liabilities Current portion of long-term debt 2.741 1.425 392 1.665 73 6.296 5 Long-term debt Other long-term inbilities Deferred taxes TOTAL LIABILITIES 5.278 1.278 5.289 18,141 Shareholders equity Share capital Rotained earrings 5.264 10243 16.007 TOTAL LIABILITIES AND EQUITY