_________________________________________________________ Normal Course Issuer Bid purchases To April 26, 2006, EnCana has purchased for cancellation approximately 23.3 million of its shares at an average price of US$46.21 per share under its current Normal Course Issuer bid, which allows the company to purchase up to 10 percent of the company?s public float at the time of the approval of the bid ? October, 2005.
The company had 836 million shares outstanding at March 31, 2006. EnCana?s 2006 capital program is expected to be funded by cash flow. An estimated $3.3 billion of after-tax proceeds from the company?s asset divestitures in 2006 are expected to be directed to share purchases and debt repayment. ___________________________________________________________
Note now as cut and paste (re-formatted/excerpted) for easy read as below,
... Common Shares Outstanding, Beginning of Year 854.9 ... Common Shares Issued under Option Plans 2.6 ... Common Shares Repurchased (21.3)
... Common Shares Outstanding, End of Period 836.2
Repurchased and cancelled shares reduce the number of shares as above per ECA's share repurchase plan.