Time plan for the transaction between Shelton Petroleum and Petrogrand

Further to the shareholder approval of the agreement between Shelton
Petroleum and Petrogrand, Shelton Petroleum announces an indicative time
plan for the completion of the transaction.


As previously announced, extraordinary shareholders’ meetings in both
Shelton Petroleum and Petrogrand on 9 November 2015 approved an
agreement between the two companies. As part of this agreement, Shelton
Petroleum will acquire Petrogrand’s ownership in Sonoyta, holding USD 4
million and Petrogrand’s 49% stake in its Russian oil assets, for a
consideration to be paid in Shelton Petroleum shares. Prior to this,
Shelton Petroleum will distribute its Ukrainian operations to its
shareholders and these operations are therefore not included in the
transaction with Petrogrand.

 

Indicative time plan

Date                     Activity

7 December          Last day of trading with right to participate in
Shelton Petroleum’s distribution of the Ukrainian operations

8 December           First day of trading without right to participate
in Shelton Petroleum’s distribution of the Ukrainian operations

9 December          Record date for Shelton Petroleum’s distribution of
the Ukrainian operations

11 December         Distribution of Shelton Petroleum’s Ukrainian
operations

16 December         Closing of the transaction whereby the shares in
Sonoyta are transferred to Shelton Petroleum and 17 500 000 B shares are
issued to Petrogrand

18 December         Record date for Petrogrand’s distribution of the
shares in Shelton Petroleum

22 December         Distribution of Petrogrand’s shares in Shelton
Petroleum

 

The time plan is indicative and dependent on among other things approval
of a prospectus by the Swedish Financial Supervisory Authority (Swedish
Finansinspektionen) prior to the issue of Shelton Petroleum shares.

Shelton Petroleum is arranging an OTC trading platform for the shares in
the Ukrainian operations. It is expected that the trading can commence
immediately following the distribution. Shelton Petroleum will publish
on www.sheltonpetroleum.com a description of the Ukrainian company and
its operations.

 

For more information, please contact:

Robert Karlsson, CEO Shelton Petroleum, tel +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 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. Shelton Petroleum oil
and gas 2P reserves amount to 34 million barrels. The company’s share is
traded on Nasdaq Stockholm under the symbol SHEL B.

The information provided herein is such that Shelton Petroleum AB is
obligated to disclose it pursuant to the Securities Markets Act and/or
the Financial Instruments Trading Act. The information was submitted for
publication at 17:30 CET on 27 November 2015.

 

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