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A rig worker operates a self-moving pad rig on a multi-well pad near Fort McMurray, Alta.
A rig worker operates a self-moving pad rig on a multi-well pad near Fort McMurray, Alta.
(Kevin Van Paassen/Kevin Van Paassen/The Globe and)

Chinook shares jump on asset sale news

Investors are pleased with Chinook Energy Corp.’s decision to unload its Tunisian assets, in order to focus on popular plays in Western Canada.

Shares in Chinook jumped 4 per cent to a new high of $2.66 on the Toronto Stock Exchange on Monday after the company said Indonesia’s PT Medco Energi Internasional Tbk was buying Chinook’s North African assets for $128-million (U.S.).