CALGARY, ALBERTA–(Marketwired – Oct. 31, 2016) – Chinook Energy Inc. (TSX:CKE) (“Chinook“) announced today that further to its news release dated October 17, 2016, Craft Oil Ltd. (“Craft“), an approximate 70% owned subsidiary of Chinook, has completed the previously announced asset disposition (the “Asset Disposition“) for gross proceeds of $13.5 million, comprised of $9.0 million cash and $4.5 million of tradeable debentures. For further details regarding the Asset Disposition, please see Chinook’s October 17, 2016 news release, a copy of which is available under Chinook’s profile on SEDAR at www.sedar.com or on Chinook’s website at www.chinookenergyinc.com.