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2015-11-12

Shelton Petroleum AB: Production report for October 2015

Shelton Petroleum’s total oil production in October 2015 amounted to 22,7
9
0 barrels, equivalent to 73
5
barrels per day.

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

--------------------------------------------------------------------------------------
| Oct Oct Jan-Oct Jan-Oct 2014 2013 2012 |
| |
| 2015 2014 2015 2014 |
| Lelyaki 10,400 9,580 99,210 104,621 125,141 126,565 119,950 |
| Rustamovskoye 12,390 15,670 133,990 166,166 196,236 122,305 57,900 |
| Total barrels 22,7 25,250 233, 270,787 321,377 248,870 177,850 |
| 9 200 |
| 0 |
| |
| Lelyaki 335 309 326 344 343 347 328 |
| Rustamovskoye 400 505 441 547 538 335 158 |
| Total barrels per day 73 815 767 891 880 682 486 |
| 5 |
--------------------------------------------------------------------------------------

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 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. Shelton Petroleum oil and gas 2P reserves amount to 34
million barrels. The company’s 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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