Cenovus Energy to hold conference call and webcast on second quarter results Thursday, July 29, 2010

CALGARY, Alberta (July 22, 2010) - Cenovus Energy Inc. (TSX, NYSE: CVE) will release its second quarter results on Thursday, July 29, 2010. The news release will provide consolidated second quarter operating information and financial statements.

A conference call and webcast to discuss the results will be held for the investment community the same day at 9:00 a.m. MT (11:00 a.m. ET). To participate, please dial 888-231-8191 (toll-free in North America) or 647-427-7450 approximately 10 minutes prior to the conference call. An archived recording of the call will be available from approximately 2:00 p.m. MT on July 29 until midnight August 5, 2010 by dialing 800-642-1687 or 416-849-0833 and entering conference passcode 81235259.

A live audio webcast of the conference call will also be available via Cenovus's website, www.cenovus.com, or via the following URL:

http://w.on24.com/r.htm?e=220941&s=1&k=369A25124B33089A48D049BBBE613FB4

Cenovus Energy Inc.
Cenovus Energy Inc. is a Canadian, integrated oil company. It is committed to applying fresh, progressive thinking to safely and responsibly unlock energy resources the world needs. Operations include oil sands projects in northern Alberta, which use specialized drilling methods, and established natural gas and oil production in Alberta and Saskatchewan. The company also has 50% ownership in two U.S. refineries. Cenovus shares trade under the symbol CVE, and are listed on the Toronto and New York stock exchanges. Its enterprise value is approximately $25 billion. For more information, visit www.cenovus.com.

CENOVUS CONTACTS:

Investors: Media:
Susan Grey
Manager, Investor Relations
403-766-4751
Rhona DelFrari
Manager, Media Relations
403-766-4740
James Fann
Analyst, Investor Relations
403-766-6700