March 2, 2016

On 1 March 2016 Forbes Russia published an article where Petrogrand was mentioned as a buyer of several oil-fields in the Komi region of Russia. The seller is stated to be Vitol Group, a large international energy company. Petrogrand does not usually comment upon rumors in the press, but issues this press release to clarify the position for its shareholders.

Petrogrand denies such rumors - it has not bought several oil-fields in the Komi region from the Vitol Group. In 2015 Petrogrand has both purchased and divested assets in the Komi region of Russia and published all information on its website. However, these transactions are not in any way related.

The article also incorrectly states that Petrogrand has released no information regarding the business combination with Petrosibir. Such information can be found on Petrogrand's website at http://ir.en.petrogrand.se/releases.cfm.

Petrogrand is actively considering its investment strategy with a view to presenting this to the shareholders at the next scheduled AGM.

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For further information, please contact:

Richard Cowie, Chairman of the Board.

Pavel Tetyakov, CEO.

Phone: +46 8 5000 7810
info@petrogrand.se

About Petrogrand
For more information visit the company's webpage www.petrogrand.se.

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PetroGrand AB issued this content on 02 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 02 March 2016 16:07:58 UTC

Original Document: http://ir.en.petrogrand.se/releasedetail.cfm?ReleaseID=958456