Oct 2011
Shelton Petroleum announces production update

The oil production of Shelton Petroleum amounted to 12,500 barrels during the month of September. The reinstatement of production at the Lelyaki field in Ukraine has been successful. 

“Our operations are back to normal at the Lelyaki oil field. Daily production even exceeds the levels prior to the shut-in due to pressure build-up. We are very pleased with the cooperation with our partner Ukrnafta and are looking forward to further developing the field together,” says Zenon Potoczny, President of Shelton Petroleum.

In light of the recent reinstatement of production at the Lelyaki oil field, Shelton Petroleum hereby provides a report for September. Production in Ukraine amounted to 7,000 barrels net to Shelton Petroleum, or 241 barrels per day as the field was reinstated on 2 September. Prior to the shut-in, daily production amounted to 217 barrels per day. Production at the Rustamovskoye field in Russia amounted to 5,500 barrels, or 184 barrels per day. A development program has been launched at this field to significantly increase production levels.

Shelton Petroleum is the operator and 100% owner of its Russian licenses. 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 has acquired a significant 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.