In accordance with Swedish law, regulations issued by the Swedish Financial Authority (Finansinspektionen), as well as requirements contained in the NGM Equity stock exchange’s listing agreement, Shelton Petroleum AB (formerly Petrosibir AB and Temporär Förvaltning i Stockholm AB) hereby publishes an annual review and summary of information released by the company during the period 1 January–31 December 2009.
Information released after the close of the period and up to today’s date is also included in the overview. The complete text of the overview is attached to this press release.
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 the Volga-Urals area in Russia and the resource-rich basins of Ukraine. Shelton Petroleum has built effective personal relationships, strategic regional partnerships and a portfolio of projects onshore and offshore. The company holds three licenses in the Russian republic of Bashkiria, located southwest of the Ural Mountains. The license blocks, which border one another, have an area of over 500 square kilometers and are surrounded by other producing oil fields. The company has found oil in its first two wells and measured commercial flow rates. In Ukraine, a strategic partnership with Ukrnafta, Ukraine's largest oil and gas company, provides Shelton Petroleum with a stake in the oil producing Lelyaki field in Chernigov Region close to Poltava. Shelton Petroleum also has a Joint Investment Agreement with Chornomornaftogaz, the leading Ukrainian oil and gas company in offshore development, that gives it a fifty per-cent stake in three major license areas in the Azov and Black Sea regions. The Shelton Petroleum share is traded on the NGM stock exchange under the symbol SHEL B.