Jan 2012
Sale of 8,600 barrels of oil from Lelyaki at January auction

At the monthly Ukrainian oil auction, a total of 8 600 barrels of oil net to Shelton Petroleum was sold at a price of USD 94 per barrel net of VAT. The oil was lifted from the Lelyaki oil field.

Production from the Lelyaki field in December amounted to 9,100 barrels net to Shelton Petroleum, whereas in November it was 8,600 barrels. The production in October and September amounted to 8,100 and 7,000 barrels respectively.

Shelton Petroleum holds a 45% interest in the Lelyaki oil field (Kashtan Petroleum) through its wholly owned subsidiary Zhoda 2001 Corporation. Ukrnafta, Ukraine’s largest oil and gas company, owns 55%.

For more information, please contact:

Zenon Potoczny, President, Shelton Petroleum, +1416566 7163


Robert Karlsson, CEO, Shelton Petroleum, tel +46 709 565141 robert.karlsson@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 Baltic Oil Terminals PLC, an AIM listed company with a terminals and transshipment business in Kaliningrad on the coast of the Baltic Sea. The Shelton Petroleum share is traded on the NGM stock exchange under the under the symbol SHEL B.