Shelton Petroleum earlier today held an extraordinary general meeting. The meeting resolved to not dissolve the cross-ownership with Petrogrand as proposed to the shareholders.

Minutes from the extra general meeting will be available at the company's website www.sheltonpetroleum.com.

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 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.

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 11:15 CET on 26 January 2015.

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