Celtic Exploration Ltd. says that under the terms of the Investment Canada Act, the Minister of Industry has approved the proposed acquisition of Celtic by a subsidiary of ExxonMobil Canada Ltd. (ExxonMobil Canada). No further regulatory approvals are required.

The proposed acquisition of Celtic by ExxonMobil Canada is to be carried out by way of a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement") and the Arrangement is expected to be completed on or about February 26, 2013, assuming the satisfaction or waiver of the conditions specified in the arrangement agreement dated October 16, 2012 (the "Arrangement Agreement") between Celtic, ExxonMobil Canada, ExxonMobil Celtic ULC and Kelt Exploration Ltd.

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