Shelton Petroleum AB: Production report for August 2014

Shelton Petroleum’s total oil production in August 2014 amounted to 26,500
barrels, equivalent to 855 barrels per day.

The table below summarizes the production broken down by oil field.

----------------------------------------------------------------------
| Aug Aug Jan-Aug Jan-Aug Jan-Dec Jan-Dec |
| |
| 2014 2013 2014 2013 2013 2012 |
|Lelyaki 10,070 10,460 85,771 82,065 126,565 119,950 |
|Rustamovskoye 16,430 5,730 134,876 52,465 122,305 57,900 |
|Total barrels 26,500 16,190 220,647 134,530 248, 177,850 |
| 8 |
| 70 |
| |
|Lelyaki 325 337 353 338 347 328 |
|Rustamovskoye 530 185 555 216 335 158 |
|Total barrels per day 855 522 908 554 68 486 |
| 2 |
----------------------------------------------------------------------

Shelton Petroleum holds 100% of the Rustamovskoye license in Russia. Shelton
Petroleum has a 45% working interest in Kashtan Petroleum (holder of the
license to the Lelyaki oil field) through its wholly owned subsidiary Zhoda
2001 Corporation. Ukrnafta, Ukraine's largest oil and gas company, owns the
remaining 55%. The production data in the table above represents Shelton
Petroleum’s working interest.

For more information, please contact:

Robert Karlsson, CEO, Shelton Petroleum, +46 709 565 141

robert.karlsson@sheltonpetroleum.com

www.sheltonpetroleum.com

About Shelton Petroleum

Shelton Petroleum is a Swedish company focused on exploring and developing
concessions in Russia and Ukraine. In Russia, the company holds three
licenses in the Volga-Urals area in Bashkiria and has commenced production on
the Rustamovskoye field after a successful exploration program. In Ukraine,
Shelton Petroleum’s wholly owned subsidiary has a joint venture with Ukrnafta
and Chornomornaftogaz, two leading Ukrainian oil and gas companies. The
Shelton Petroleum share is traded on NASDAQ OMX Stockholm under the symbol
SHEL B.

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