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2015-01-12

Shelton Petroleum AB: Production report for December 2014

Shelton Petroleum’s total oil production in December 2014 amounted to 25,000
barrels, equivalent to 806 barrels per day.

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

----------------------------------------------------------------------
| Dec Dec Jan-Dec Jan-Dec Jan-Dec |
| |
| 2014 2013 2014 2013 2012 |
| |
| Lelyaki 10,410 11,480 125,141 126,565 119,950 |
| Rustamovskoye 14,590 18,320 196,236 122,305 57,900 |
| Total barrels 25,000 29,800 321,377 248, 177,850 |
| 8 |
| 70 |
| |
| Lelyaki 336 370 343 347 328 |
| Rustamovskoye 471 591 538 335 158 |
| Total barrels per day 806 961 880 68 486 |
| 2 |
----------------------------------------------------------------------

Scheduled workovers have lead to fewer production days and lower production at
the Rustamovskoye field in Russia during December 2014. Average daily
production at Rustamovskoye so far in January 2015 amounts to 520 barrels per
day.

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. The Shelton Petroleum share is traded on Nasdaq
Stockholm under the symbol SHEL B.

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

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