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

The increase in production at the Lelyaki oil field in Ukraine is the result of a series of workovers performed during the month. When the next workover has been completed, the rig will be moved to #310 to commence the previously announced test of the shallower Permian zone.

Shelton Petroleum is currently drilling a new well on the Rustamovskoye field in Russia. A depth of 1,851 meters has been reached. The new well is a deviated well that is being drilled from the same pad as the producing oil well RS#2. Planned total depth is approximately 2,500 meters and the objective is to penetrate the oil-bearing Devonian sandstone formation 800 meters horizontally from RS#2.

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%. Shelton Petroleum holds 100% of the Rustamovskoye license in Russia. 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. The company holds three licenses in the Volga-Urals area 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. Shelton Petroleum is pursuing an integrated business model and holds an equity stake in Pan European Terminals PLC. The Shelton Petroleum share is traded on NASDAQ OMX Stockholm under the under the symbol SHEL B.