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2015-02-11

Shelton Petroleum AB: Production report for January 2015

Shelton Petroleum’s total oil production in January 2015 amounted to 22,870
barrels, equivalent to 738 barrels per day.

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

--------------------------------------------------------------------
| Jan Jan Jan-Dec Jan-Dec Jan-Dec |
| |
| 2015 2014 2014 2013 2012 |
| |
| Lelyaki 10,310 11,520 125,141 126,565 119,950 |
| Rustamovskoye 12,560 17,800 196,236 122,305 57,900 |
| Total barrels 22,870 29,320 321,377 248,870 177,850 |
| |
| Lelyaki 333 372 343 347 328 |
| Rustamovskoye 405 574 538 335 158 |
| Total barrels per day 738 946 880 682 486 |
--------------------------------------------------------------------

During the second half of January, the wells in Russia were not in full
operation, which led to fewer production days and lower production at the
Rustamovskoye field. Average daily production at Rustamovskoye so far in
February 2015 amounts to 508 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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