Shelton Petroleum has since 2007 successfully been pursuing oil exploration and production at the company’s three license blocks in the Russian republic of Bashkiria. The company has found oil and commenced production from four out of four drilled wells. As previously announced, the new well at the Rustamovskoye field encountered substantially higher net pay and has reached significantly higher flow rates compared to the previous wells.

The objective of the geologic update is to present the company’s new and improved view on its Russian oil fields following the positive drilling results of the new well.

The presentation will be webcasted. Participants will be able to submit questions via the webcast and follow the presentation material live. An on demand version will also be available on the company’s website www.sheltonpetroleum.com. To participate in the conference call, and thereby be able to ask questions, please call one of the following numbers:

Sweden: +46850598261

UK: +442033645372

Link to webcast: http://financialhearings.nu/140212/sheltonpetroleum/

For more information, please contact:

Robert Karlsson, CEO, Shelton Petroleum, +46709 565141 robert.karlsson@sheltonpetroleum.com

www.sheltonpetroleum.com

Facts 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 under the symbol SHEL B.