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Imperial Resources Initial Test Well Results, SWDF Rebuild Preparations

Imperial Oil Ltd (IMO.TO) today announced preliminary results from a well in which Imperial owns a nominal interest targeting the same blanket formation as the company's key Oklahoma resource play, and an update on its Green Tide Salt Water Disposal Facility.

Meanwhile, Imperial Oil and Ottawa have resumed talks over a financial support package for the Mackenzie gas pipeline in the Far North, but the company would not say on Friday if it was any closer to proceeding with the C$16.2 billion (US$15.4 billion) project, Reuters reported over the weekend.

Discussions aimed at making the long-delayed development economically viable restarted some time in the second-half of this year after the two sides took a "hiatus" before the last federal election in May, Imperial spokesman Pius Rolheiser reportedly said. He reportedly declined to offer details.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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