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Imperial Oil Ltd
Symbol C : IMO
Shares Issued 847,599,011
Close 2013-02-25 C$ 42.43
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Imperial Oil acquires 50% stake in Celtic Exploration

2013-02-26 14:50 ET - News Release

Mr. John Charlton reports

IMPERIAL ACQUIRES 50-PERCENT PARTICIPATING INTEREST IN CELTIC EXPLORATION FOLLOWING ITS ACQUISITION BY EXXONMOBIL CANADA

Imperial Oil Ltd. has acquired a 50-per-cent participating interest in Celtic Exploration Ltd., following the close of its acquisition by ExxonMobil Canada today. This occurred by means of a sale of a 50-per-cent interest in Celtic's assets and liabilities from ExxonMobil Canada to Imperial Oil, which represents about a $1.6-billion investment by Imperial Oil.

ExxonMobil Canada acquired Celtic after receiving final approval from Canadian regulatory authorities last week. Celtic's shareholders had previously approved the transaction in a meeting on Dec. 14, 2012.

The technical expertise and financial strength of Imperial, ExxonMobil and XTO Energy Inc., a subsidiary of ExxonMobil, will enable the responsible development of the energy contained in the acquired unconventional, liquids-rich acreage.

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