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2016-01-12

Petrosibir AB: Production report for December 2015

Petrosibir’s total oil production in December 2015 amounted to 31,340 barrels,
equivalent to 1,688 barrels per day.

The table below summarizes the production broken down by region.

Petrosibir owns 100% of the Russian company Ingeo Holding, which holds a
production license in Bashkiria. Petrosibir owns 49% of the Cypriot company
Ripiano, whose wholly owned Russian subsidiaries hold three production
licenses in Komi. Bashkiria and Komi are federal subjects of the Russian
Federation.

On 16 December 2015 Petrosibir acquired its 49% share of the Komi operations.
The tables for December 2015 and the full year 2015 therefore only include 16
days of production from Komi.

On 11 December 2015 Petrosibir distributed its Ukrainian operations to its
shareholders. The tables above therefore include the production from Ukraine
up until and including 11 December 2015.

For more information, please contact:

Robert Karlsson, CEO, Petrosibir, +46 709 565 141

robert.karlsson@sheltonpetroleum.com

www.sheltonpetroleum.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
reserves amount to 32 million barrels. The company’s share is traded on
Nasdaq Stockholm under the symbol SHEL B until 4 February 2016. The company
will arrange a new trading platform so that the share can be traded also
following that date.

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

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