4
Feb 2010
PETROSIBIR BECOMES SHELTON PETROLEUM AND SETS 2010 FINANCIAL CALENDAR

(NGM: PETS B)

Petrosibir AB’s change of name to Shelton Petroleum AB has now been registered with the Swedish Companies Registration Office (Bolagsverket). The company’s share will be traded under the ticker symbol SHEL B.

The Swedish Companies Registration Office (Bolagsverket) has registered the EGM resolution to change the company’s name from Petrosibir AB to Shelton Petroleum AB. The ticker symbol will change from PETS B to SHEL B. The new ticker symbol comes into effect on Monday 8 February.

Shelton Petroleum has also set its financial reporting calendar for 2010:

Year-End Report 24 February

Annual General Meeting 17 May

Interim Report January-March 26 May

Interim Report April-June 26 August

Interim Report July-September 30 November

The publication date of the Year-End Report has been pushed up one day from the date previously announced.

For more information, please contact:

Robert Karlsson, CEO, Shelton Petroleum, tel +46 709 565 141

robert.karlsson@sheltonpetroleum.com

www.petrosibir.com

The company's new website will be released shortly: www.sheltonpetroleum.com

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 next 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.