We investigate the potential of a flavor pure high gamma electron capture electron neutrino beam directed towards a large water cherenkov detector with 500 kt fiducial mass. The energy of the neutrinos is reconstructed by the position measurement within the detector and superb energy resolution capabilities could be achieved. We estimate the requirements for such a scenario to be competitive to a neutrino/anti-neutrino running at a neutrino factory with less accurate energy resolution. Although the requirements turn out to be extreme, in principle such a scenario could achieve as good abilities to resolve correlations and degeneracies in the search for sin^2(2 theta_13) and delta_CP as a standard neutrino factory experiment.Comment: 21 pages, 7 figures, revised version, to appear in JHEP, Fig.7 extended, minnor changes, results unchange

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