Information from Shelton Petroleum in relation to Petrogrand’s public offer

The board of Shelton Petroleum AB (publ) (”Shelton”) notes that Petrogrand AB
(publ) (“Petrogrand”) on 21 March 2014 at 16.05 announced a public offer to the
holders of shares, convertible loans and warrants in Shelton to sell all their
shares, convertible loans and warrants in Shelton to Petrogrand for a cash
consideration of SEK 18.60 per share of series A and B, SEK 17.50 plus accrued
interest per convertible loan of series 2013/2014 and SEK 3.00 per warrant.


The board of Shelton will conduct a thorough analysis of the public offer and
thereafter publish its opinion on it. The board recommends all shareholders,
holders of convertible loans and warrants not to make any final decision until
all information has been made available.

 

Stockholm 24 March 2014

Shelton Petroleum AB (publ)

The Board of Directors

 

For more information, please contact:

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

robert.karlsson@sheltonpetroleum.com

www.sheltonpetroleum.com

The information provided herein is such that Shelton Petroleum AB is obligated
to disclose it pursuant to the Securities Markets Act (2007:528) and the
takeover-rules. The information was submitted for publication at 08:30 (CET) on
24 March 2014.

About Shelton Petroleum

Shelton Petroleum is a Swedish company focused on exploring and developing
concessions in Russia and the resource-rich basins of 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.