13
Jan 2014
Production report for December 2013

Shelton Petroleum’s total oil production in December 2013 amounted to 29,800 barrels, equivalent to 961 barrels per day. Production in the fourth quarter 2013 amounted to 92,060 barrels, equivalent to 1,001 barrels per day.

The table below summarizes the production broken down by oil field.

Dec

2013

Dec

2012

Jan-Dec

2013

Jan-Dec

2012

Lelyaki

11,480

10,000

126,565

119,950

Rustamovskoye

18,320

6,600

122,305

57,900

Total barrels

29,800

16,600

248,870

177,850

Lelyaki

370

323

347

328

Rustamovskoye

591

213

335

158

Total barrels per day

961

535

682

486

“As a result of the successful drillings in Bashkiria, production has almost doubled in 2013. During the fourth quarter, production amounted to just over 1,000 barrels per day, which marks an important milestone for Shelton Petroleum”, says Robert Karlsson, CEO of Shelton Petroleum.

Shelton Petroleum holds 100% of the Rustamovskoye license in Russia. Shelton Petroleum has a 45% working interest in Kashtan Petroleum (holder of the license to the Lelyaki oil field) through its wholly owned subsidiary Zhoda 2001 Corporation. Ukrnafta, Ukraine's largest oil and gas company, owns the remaining 55%. The production data in the table above represents Shelton Petroleum’s working interest.

For more information, please contact:

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

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 under the symbol SHEL B.