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Shelton Petroleum AB: Time plan for the transaction between Shelton Petroleum and Petrogrand

Further to the shareholder approval of the agreement between Shelton Petroleum
and Petrogrand, Shelton Petroleum announces an indicative time plan for the
completion of the transaction.

As previously announced, extraordinary shareholders’ meetings in both Shelton
Petroleum and Petrogrand on 9 November 2015 approved an agreement between the
two companies. As part of this agreement, Shelton Petroleum will acquire
Petrogrand’s ownership in Sonoyta, holding USD 4 million and Petrogrand’s 49%
stake in its Russian oil assets, for a consideration to be paid in Shelton
Petroleum shares. Prior to this, Shelton Petroleum will distribute its
Ukrainian operations to its shareholders and these operations are therefore
not included in the transaction with Petrogrand.

Indicative time plan

Date Activity

7 December Last day of trading with right to participate in Shelton
Petroleum’s distribution of the Ukrainian operations

8 December First day of trading without right to participate in
Shelton Petroleum’s distribution of the Ukrainian operations

9 December Record date for Shelton Petroleum’s distribution of the
Ukrainian operations

11 December Distribution of Shelton Petroleum’s Ukrainian operations

16 December Closing of the transaction whereby the shares in Sonoyta
are transferred to Shelton Petroleum and 17 500 000 B shares are issued to

18 December Record date for Petrogrand’s distribution of the shares in
Shelton Petroleum

22 December Distribution of Petrogrand’s shares in Shelton Petroleum

The time plan is indicative and dependent on among other things approval of a
prospectus by the Swedish Financial Supervisory Authority (Swedish
Finansinspektionen) prior to the issue of Shelton Petroleum shares.

Shelton Petroleum is arranging an OTC trading platform for the shares in the
Ukrainian operations. It is expected that the trading can commence
immediately following the distribution. Shelton Petroleum will publish on a description of the Ukrainian company and its

For more information, please contact:

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

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.

The information provided herein is such that Shelton Petroleum AB is obligated
to disclose it pursuant to the Securities Markets Act and/or the Financial
Instruments Trading Act. The information was submitted for publication at
17:30 CET on 27 November 2015.

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

Författare NGN

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