As Petrogrand AB (publ) (“Petrogrand”) has initiated a matter with the Swedish Securities Council in relation to Shelton Petroleum AB’s (publ) (“Shelton Petroleum”) repurchase of convertible bonds and directed new issue of shares announced on 14 May 2014, and Shelton Petroleum is currently investigating whether powers of attorney used at Petrogrand’s extraordinary general meeting could be held invalid and what actions to take in this respect, Shelton Petroleum has decided on a new date for the 2014 Annual General Meeting.

Stockholm, 19 May 2014

Shelton Petroleum AB (publ)

The Board of Directors

For more information, please contact:

Robert Karlsson, CEO Shelton Petroleum, +46709 565141

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 13:00 (CET) on 19 May 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.

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