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2016-05-11

Petrosibir AB: Petrosibir has divested its holding in Petrogrand

Petrosibir has divested all of its shares in Petrogrand. The sale strengthens
the company’s cash position by approximately SEK 8 million.

Petrosibir has sold all of its 11,585,308 shares in Petrogrand for a price of
SEK 0.70 per share. The final date that the Petrgrand share was traded at
Nasdaq First North was 4 February 2016 and the final closing price was SEK
0.45 per share. Petrosibir’s carrying value was approximately SEK 10 million
at 31 December 2015.

For more information, please contact:

Nikolay Millionshchikov, CEO, +46 8 407 1850

Gunnar Danielsson, deputy CEO and CFO, +46 70 738 0585 www.petrosibir.com

About Petrosibir

Petrosibir (previously Shelton Petroleum) is a Swedish company focused on
exploring and developing concessions in Russia. Petrosibir’s Ukrainian
operations have been distributed to its shareholders. The company holds
licenses in the Russian republics of Bashkiria and Komi. Petrosibir’s 2P oil
and gas reserves amount to 35 million barrels. The Petrosibir share starts
trading on the OTC-list at beQuoted on 17 February 2016 under the symbol
PSIB-B.

This is an English translation of the Swedish original. In case of
discrepancies, the Swedish original shall prevail.

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