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2014-03-26

PETROGRAND AB: Petrogrand’s ownership in Shelton Petroleum exceeds 20 percent

Petrogrand AB
Company Announcement

Petrogrand’s ownership in Shelton Petroleum exceeds 20 percent

Stockholm, 2014-03-26 10:24 CET (GLOBE NEWSWIRE) --

Petrogrand AB (publ) has per 25 March 2014 acquired an additional 1,897,485
shares of series B in Shelton Petroleum AB (publ) (“Shelton Petroleum”) in the
market and thus now has a total holding of 3,756,893 shares of series B,
representing approximately 22.65 percent of the capital and 20.73 percent of
the voting rights in Shelton Petroleum.

This is a translation of the Swedish version. In case of any discrepancy between
the English and the Swedish version, the Swedish version shall take precedence.

For further information, please contact:

Maks Grinfeld, CEO, phone: +46 8 5000 7810
Mikael Wallgren, Chairman, phone: +46 8 5000 7810
Certified Adviser First North: Mangold Fondkommission AB

Reasonable caution notice: The statement and assumptions made in the company's
information regarding Petrogrand AB's ("Petrogrand") current plans, prognoses,
strategies, concepts and other statements that are not historical facts are
estimations or "forward looking statements" concerning Petrogrand's future
activities. Such future estimations comprise but are not limited to statements
that include words such as "may occur", "concerning", "plans", "expects",
"estimates", "believes", "evaluates", "prognosticates" or similar expressions.
Such expressions reflect the management of Petrogrand's expectations and
assumptions made on the basis of information available at that time.

These statements and assumptions are subject to a large number of risks and
uncertainties. These, in their turn, comprise but are not limited to I) changes
in the financial, legal and political environment of the countries in which
Petrogrand conducts business, II) changes in the available geological
information concerning the company's projects in operation, III) Petrogrand's
capacity to continuously guarantee sufficient financing to perform their
activities as a "going concern", IV) the success of all participants in the
group, or of the various interested companies, joint ventures or secondary
alliances, V) changes in currency exchange rates, in particular those relating
to the RUB/USD rate. Due to the background of the many risks and uncertainties
that exist for any oil-prospecting venture and oil production company in its
initial stage, Petrogrand's actual future development may significantly deviate
from that indicated in the company's informative statements.

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