About Shelton Petroleum

Shelton Petroleum is the result of the recent merger between Petrosibir and Shelton Canada Corp. Shelton Petroleum focuses on exploring and developing concessions in the Volga-Urals area in Russia and the resource-rich basins of Ukraine.

Shelton Petroleum has built effective personal relationships, strategic regional partnerships and a portfolio of projects on and offshore. The company holds three licenses in the Russian republic of Bashkiria, located southwest of the Ural Mountains. The license blocks, which border one another, have an area of over 500 square kilometers and are surrounded by other producing oil fields. Shelton Petroleum has found oil in its first two wells and measured commercial flow rates.

In Ukraine, a strategic partnership with Ukrnafta, Ukraine's largest oil and gas company, provides Shelton Petroleum, through its subsidiary Zhoda 2001, with concessions in the oil producing Lelyaki field in Chernigov Region close to Poltava. Shelton Petroleum also has a Joint Investment Agreement with Chornomornaftogaz, the leading Ukrainian oil and gas company in offshore development. The agreement gives the company a 50 per-cent stake in major license areas in the Azov and Black Sea regions.

The company's share is traded on the NGM stock exchange under the symbol SHEL B. The company has resolved to seek a listing on NASDAQ OMX Nordic Main Market in Stockholm.
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