Chinook Energy Inc. (TSX: CKE) announced initiation of Strategic Review Process. With the expected strengthening of our operating cash flows, in part resulting from the pending return to 100% capacity of the Enbridge T-South pipeline in November 2019, the anticipated commissioning of TC Energy’s North Montney Mainline in January 2020, and numerous additional industry gas export expansions planned in 2020 and 2021 totaling approximately 1.9 bcf/d, we have initiated a review of available strategic alternatives. Strategic alternatives may include, but are not limited to, a sale of all or a material portion of our assets, either in one transaction or in a series of transactions, the outright sale of our company, or merger or other transaction involving us and a third party. For the purposes of considering strategic alternatives, we have established a special committee consisting of directors, Jill T. Angevine (Chair), Robert J. Herdman and Robert J. Iverach to oversee the process. We have engaged Peters & Co. Limited as our financial advisor in connection with the process. This strategic alternative review process has not been initiated as a result of receiving any offer and there are no assurances that a transaction will be undertaken. It is our current intention not to disclose developments with respect to the process unless and until our Board of Directors has approved a specific transaction or otherwise determines that disclosure is necessary or appropriate. We caution that there are no assurances or guarantees that the process will result in a transaction or, if a transaction is undertaken, the terms or timing of such a transaction. We have not yet set a definitive schedule to complete its identification, examination and consideration of strategic alternatives.