Shelton Petroleum recently announced an offer to the shareholders in Petrogrand to exchange their Petrogrand shares for shares in Shelton Petroleum. The acceptance period for the offer runs from 18 February 2014 up to and including 10 March 2014. Information about the offer can be found on the company’s website www.sheltonpetroleum.com.

In order to facilitate for the Petrogrand shareholders to evaluate the bid, Shelton Petroleum in cooperation with Aktiespararna (the Swedish Shareholders' Association) will host an information meeting. Shelton Petroleum has step by step built a license portfolio with increasing production under strong profitability. CEO Robert Karlsson will present Shelton Petroleum’s oil operations as well as the background of the offer and the values it can create. Please submit a notice of participation on Aktiespararna’s website www.aktiespararna.se/sheltonpetroleum (in Swedish).

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 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.