Production report for December 2014


Shelton Petroleum’s total oil production in December 2014 amounted to
25,000 barrels, equivalent to 806 barrels per day.


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

|   | Dec 2014 | Dec 2013 | Jan-Dec 2014 | Jan-Dec 2013 | Jan-Dec 2012 |   |
|   |   |   |   |   |   |   |
| Lelyaki | 10,410 | 11,480 | 125,141 | 126,565 | 119,950 |   |
| Rustamovskoye | 14,590 | 18,320 | 196,236 | 122,305 | 57,900 |   |
| Total barrels | 25,000 | 29,800 | 321,377 | 248,870 | 177,850 |   |
|   |   |   |   |   |   |   |
| Lelyaki | 336 | 370 | 343 | 347 | 328 |   |
| Rustamovskoye | 471 | 591 | 538 |  335 | 158 |   |
| Total barrels per day | 806 | 961 | 880 | 682 | 486 |   |

 

Scheduled workovers have lead to fewer production days and lower
production at the Rustamovskoye field in Russia during December 2014.
Average daily production at Rustamovskoye so far in January 2015 amounts
to 520 barrels per day.

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, +46 709 565 141

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 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. The
Shelton Petroleum share is traded on Nasdaq Stockholm under the symbol
SHEL B.

This is an English translation of the Swedish original. In case of
discrepancies, the Swedish original shall prevail.

Attachments

PR150112___Production_report_Dec_2014_cfd33.pdf