NASDAQ OMX Stockholm’s Listing Committee has approved an application for listing of Shelton Petroleum’s B shares on NASDAQ OMX Stockholm, Small Cap. Trading is expected to commence on 19 November 2012.
The approval is subject to publishing a listing document and completion of certain administrative steps. As a result of the listing on NASDAQ OMX Stockholm main board, the trading of Shelton Petroleum’s shares on NGM Equity will be discontinued on 16 November 2012. Shareholders do not need to take any action in conjunction with the listing. The share will be traded under the same ticker symbol (SHEL) and ISIN code (SE0000514572).
“We have taken Shelton Petroleum from pure exploration into production. We have a positive trend in production volumes and the company now generates sound profits from extraction of oil in both Russia and Ukraine. We have a significant potential in our license portfolio and have identified several interesting growth opportunities on our markets. The migration to a more recognized stock exchange is a natural step that will open new opportunities for the shareholders and the company”, says Robert Karlsson, CEO of Shelton Petroleum.
By migrating to a new trading platform, Shelton Petroleum expects to increase liquidity of its share, strengthen the company’s position on the capital markets and facilitate trading for the company’s international shareholders. This will create a more diversified shareholder base and a stronger platform for future investments and partnerships.
A listing document will be published and made available at the company’s website, www.sheltonpetroleum.com.
For more information, please contact:
Robert Karlsson, CEO, Shelton Petroleum, +46 709 565141
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.