Oct 2013
Outcome of exchange of convertible bond 2012/2013

As previously announced the Extraordinary General Meeting of Shelton Petroleum on 22 August 2013 has resolved to offer the holders of convertible bond 2012/2013, originally issued in 2009 and maturing on 31 December 2013, to exchange the bond in the amount of SEK 22,770 thousand with a new bond by subscribing to the new convertible bond 2013/2014 by no later than 15 October 2013. Convertible 2013/2014 shall be convertible to shares during the period 1 – 15 June, 2014. All other terms and conditions of Convertible 2013/2014 are equivalent to the terms and conditions of Convertible 2012/2013.

Holders of approximately 98 per cent, or SEK 22,410 thousand, of Convertible 2012/2013 have notified the company that they have accepted the offer. Holders of the remaining SEK 360 thousand of Convertible 2012/2013 have given notice that they intend to convert their holdings into shares in Shelton Petroleum.

In relation to the conversion of SEK 360 thousand of Convertible 2012/21013, 22,500 new B shares will be issued, which corresponds to a dilution of approximately 0.19 per cent.

For more information, please contact:

Robert Karlsson, CEO, Shelton Petroleum, +46 709 565141



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.