An unknown buyer entered into a letter of intent to acquire assets in Gold Creek area of Alberta from Chinook Energy Inc. (TSX:CKE) for CAD 10.5 million on January 4, 2017. The divested assets include 15.6 net sections of land and related pipelines and production facilities. The purchase price is subject to customary closing adjustments. The transaction is anticipated to close on or before February 20, 2017. The transaction is highly accretive to Chinook.