Latest news and press releases
Below you will find Shelton Petroleum's latest news and press releases in English from 1 July 2009 , as well as the historic press releases from the oil company Shelton Exploration (formerly Petrosibir Exploration). Click here to read TFS press releases (in Swedish only).
SHELTON PETROLEUM AB: CHANGE IN NUMBER OF SHARES AND VOTES
2010-07-30
In June 2010, Shelton Petroleum completed a private placement of shares. This resulted in a change in the number of shares and votes in Shelton Petroleum.
SHELTON PETROLEUM AB: PROSPECTUS REGISTERED BY THE SWEDISH FINANCIAL SUPERVISORY AUTHORITY
2010-07-12
Shelton Petroleum has prepared a prospectus in Swedish for admission to trading of the new shares issued in connection with the private placement completed in June.
SHELTON PETROLEUM AB: SHELTON PETROLEUM COMPLETES PRIVATE PLACEMENT
2010-06-22
(NGM: SHEL B)
Following a book-building offering process, the Board of Directors of Shelton Petroleum has resolved to complete the private placement that was announced yesterday. The proceeds of SEK 30 million from the oversubscribed issue will be used to commence pilot production of oil and to take steps towards large-scale production in Bashkiria, Russia.
SHELTON PETROLEUM AB: DIRECTED NEW SHARE ISSUE TO COMMENCE OIL PRODUCTION IN BASHKIRIA
2010-06-21
(NGM:SHEL B)
The Board of Directors of Shelton Petroleum is planning a directed new share issue of 40-50 million shares. The issue is being made through a book-building process. The proceeds will be used to commence pilot production of oil and to take steps towards large-scale production in Bashkiria, Russia.
SHELTON PETROLEUM AB: NEW PRICE REGIME IN UKRAINE FOR SHELTON PETROLEUM'S OIL
2010-06-02
(NGM:SHEL B)
The price of Ukrainian oil hit an eighteen month high in May. Recently passed legislation aims to align local Ukrainian oil prices to the world market. At the latest auction, the Shelton Petroleum group sold oil at USD 64 per barrel, which is an increase of 42 per cent compared to the first quarter.
SHELTON PETROLEUM AB: CHANGE IN NUMBER OF SHARES AND VOTES
2010-05-31
(NGM:SHEL B)
In December 2009, Shelton Petroleum issued convertible bonds. In May 2010, some investors decided to convert some or all of their holdings of convertible bonds into shares of series B. This resulted in a change in the number of shares and votes in Shelton Petroleum.
SHELTON PETROLEUM AB: SHELTON TO APPLY FOR LISTING ON NASDAQ OMX MAIN MARKET
2010-05-31
(NGM: SHEL B)
The board of directors of Shelton Petroleum has resolved to apply for listing on the NASDAQ OMX Nordic stock exchange in Stockholm. The company is currently listed on the NGM stock exchange.
SHELTON PETROLEUM AB: INTERIM REPORT JANUARY - MARCH 2010
2010-05-26
(NGM:SHEL B)
* Shelton Petroleum enters into a production phase and reports its first revenue from
sale of oil at Lelyaki
* The RS#2 well in Bashkiria tested 200 barrels per day and is expected to be put into production during the summer
* Shelton Petroleum is actively pursuing expansion opportunities in Russia and Ukraine
* Revenue for the period: SEK 10.7 million (0.0)
* Profit for the period after tax: SEK -1.3 million (-2.5)
* Basic and diluted earnings per share: SEK 0.00 (-0.13)
SHELTON PETROLEUM AB: COMMUNIQUÉ FROM ANNUAL GENERAL MEETING
2010-05-17
(NGM:SHEL B)
Shareholders of Shelton Petroleum AB passed the following main resolutions at the annual general meeting held today.
SHELTON PETROLEUM AB: ANNUAL REVIEW OF INFORMATION PUBLISHED DURING 2009
2010-05-14
In accordance with Swedish law, regulations issued by the Swedish Financial Authority (Finansinspektionen), as well as requirements contained in the NGM Equity stock exchange's listing agreement, Shelton Petroleum AB (formerly Petrosibir AB and Temporär Förvaltning i Stockholm AB) hereby publishes an annual review and summary of information released by the company during the period 1 January-31 December 2009.
SHELTON PETROLEUM AB: 2009 ANNUAL REPORT PUBLISHED
2010-04-30
(NGM:SHEL B)
Shelton Petroleum has released its 2009 Annual Report.
SHELTON PETROLEUM AB: SHELTON PETROLEUM READY TO SELL ITS FIRST RUSSIAN OIL
2010-04-19
(NGM: SHEL B)
Shelton Petroleum has now completed a successful production test of the second exploration well (RS#2) on the Rustamovskoye field in Bashkiria, Russia. Production wells indicate that the well is capable of producing 200 barrels per day. This is the last step in the Rustamovskoye exploration program, and the plan is for Shelton Petroleum to sell its first oil in Russia as early as this summer. The commercial flow rates provide the company with enough support to commence a large-scale field development program involving the drilling of production wells. Shelton already produces oil from the Lelyaki field near Poltava in Ukraine.
SHELTON PETROLEUM AB: NOTICE TO ATTEND ANNUAL GENERAL MEETING OF SHAREHOLDERS IN SHELTON PETROLEUM AB (PUBL)
2010-04-16
(NGM: SHEL B)
The shareholders of Shelton Petroleum AB (publ) (hereinafter the "Company") are hereby given notice to attend the annual general meeting to be held at 10.00 a.m. on Monday, 17 May 2010 at the offices of Kilpatrick Stockton Advokatbyrå, Hovslagargatan 5 B, 5th floor in Stockholm.
SHELTON PETROLEUM AB: NEW DRILLING INCREASES PRODUCTION RATES AT LELYAKI OIL FIELD IN UKRAINE
2010-03-23
(NGM: SHEL B)
Shelton Petroleum and Ukraine's largest oil and gas company, Ukrnafta, have drilled the new production well #304 A to total depth at the Lelyaki oil field in the Chernigov Region close to Poltava. This is the company's first development well since the recently completed merger that formed Shelton Petroleum. Log analysis indicates good reservoir properties and the well is expected to be tied in for production in May.
SHELTON PETROLEUM AB: CHANGE IN NUMBER OF SHARES AND VOTES
2010-02-26
(NGM: SHEL B)
In January, Shelton Petroleum issued new shares to the previous shareholders of Shelton Canada Corp. In February, Shelton Petroleum issued shares also to the previous holders of convertible bonds and options. This resulted in a change in the number of shares and votes in Shelton Petroleum.
SHELTON PETROLEUM AB: YEAR-END REPORT JANUARY - DECEMBER 2009
2010-02-24
* The company changes its name to Shelton Petroleum after the completion of the merger
* New independent Western reserves report confirms reserves of 14 million barrels of oil and a resource potential of 342 million barrels of oil equivalent
* Bashkiria, Russia: Successful exploration program completed with good oil flow rates. Acquisition of two new licenses increased the company's license area by factor of ten
* Ukraine: Drilling of a new development well in Lelyaki commenced during the first quarter 2010. Significantly improved sales prices for oil at the end of 2009
* Obtained an option to acquire a considerable holding in Tomsk Refining AB
* The company was in an exploration phase and no sale of oil or gas has yet occurred. Sales of oil will be accounted for in the first quarter 2010
* Result for the period after tax: SEK -16 million (-8)
* Result per share before and after dilution: SEK -0.10 (-0.41)
SHELTON PETROLEUM AB: NEW RESERVES REPORT CONFIRMS POTENTIAL OF LICENSE PORTFOLIO
2010-02-05
Shelton Petroleum announces an independent Western reserves report on the company's licenses in Russia and Ukraine. Reserves amount to 14 million barrels of oil, and the potential in the company's oil and gas fields amounts to 343 million barrels of oil equivalent.
PETROSIBIR AB: PETROSIBIR BECOMES SHELTON PETROLEUM AND SETS 2010 FINANCIAL CALENDAR
2010-02-04
(NGM: PETS B)
Petrosibir AB's change of name to Shelton Petroleum AB has now been registered with the Swedish Companies Registration Office (Bolagsverket). The company's share will be traded under the ticker symbol SHEL B.
PETROSIBIR AB: CHANGE IN NUMBER OF SHARES AND VOTES
2010-01-29
(NGM: PETS B)
The offer by Petrosibir AB to the shareholders of Shelton Canada Corp. has entailed a change in the number of shares and votes in Petrosibir.
PETROSIBIR AB: PETROSIBIR ANNOUNCES NEW DRILLING IN UKRAINE
2010-01-25
(NGM: PETS B)
Petrosibir and Ukraine's largest oil and gas company, Ukrnafta, have commenced drilling of their third development well as partners in the Lelyaki oil field next to Poltava. The well is in close proximity to pipeline infrastructure for rapid tie in.
PETROSIBIR AB: COMMUNIQUÉ FROM EXTRAORDINARY SHAREHOLDERS' MEETING
2010-01-19
(NGM:PETS)
A number of resolutions were passed at the extraordinary meeting of shareholders ("EGM") of Petrosibir AB held today, including a vote to change the company's name to Shelton Petroleum AB. Also, ahead of trading of the new Petrosibir shares, to be issued to the former shareholders of Shelton Canada Corp., a prospectus has been published and is now available for download from the company's website, www.petrosibir.com.
PETROSIBIR AB: NEW SHARE ISSUE IN PETROSIBIR
2009-12-29
(NGM:PETS B)
As a part of the merger between Petrosibir and Shelton Canada Corp. the Board of Directors of Petrosibir has resolved to issue new shares to Shelton's owners. The new Petrosibir shares are payment to Shelton's shareholders for their Shelton shares. Shelton will subsequently become a wholly-owned subsidiary of Petrosibir.
PETROSIBIR AB: NOTICE TO ATTEND EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS IN PETROSIBIR AB (PUBL)
2009-12-17
(NGM:PETS B)
Shareholders of Petrosibir AB (publ) ("Petrosibir" or "the company" herein) are hereby given notice to attend an extraordinary meeting ("EGM") of shareholders on Tuesday, 19 January 2010, at 10:30 local time at the law offices of Kilpatrick Stockton on Hovslagargatan 5 B, floor 5, Stockholm.
PETROSIBIR AB: SHELTON SHAREHOLDERS APPROVE MERGER WITH PETROSIBIR
2009-12-17
On 16 July 2009, Petrosibir announced that it had entered into a merger agreement with Shelton Canada Corp., a publicly traded Canadian company listed on the Toronto Venture Exchange. The shareholders of Shelton at a shareholders' meeting on 16 December unanimously approved the plan of arrangement between Petrosibir and Shelton. Following final court approval, the transaction is expected to close on or about 31 December. After the closing of the transaction Shelton will become a wholly-owned subsidiary of Petrosibir and the current shareholders in Shelton will become shareholders in Petrosibir.
PETROSIBIR AB: PETROSIBIR RAISES SEK 30 MILLION IN CONVERTIBLE BOND ISSUE
2009-12-04
(NGM:PETS B)
The Board of Directors of Petrosibir has decided to issue convertible bonds of approximately SEK 30 million. The proceeds will be used for preparation of the company for the start of large-scale oil production in 2010 and for the acquisition of an option in Tomsk Refining AB.
PETROSIBIR AB: SHELTON ANNOUNCES DATE FOR DECISION ON MERGER WITH PETROSIBIR
2009-11-26
(NGM:PETS B)
Shelton announced today that the Shelton shareholders' meeting that will decide upon the business combination between Petrosibir and Shelton will be held on 16 December 2009 in Canada. After approval of the business combination, Petrosibir will finalize the transaction by issuing new shares to Shelton's shareholders.
PETROSIBIR AB: PRIVATE PLACEMENT OF CONVERTIBLE BONDS IN PETROSIBIR
2009-11-23
(NGM:PETS B)
The Board of Directors of Petrosibir is planning a private placement of SEK 40-60 million in convertible bonds. The issue is being made through a book-building process. The proceeds will be used to prepare the company for the start of large-scale oil production and to obtain the option to acquire an equity interest in Tomsk Refining on the terms disclosed in a press release from 12 November 2009.
PETROSIBIR AB: INTERIM REPORT JANUARY - SEPTEMBER 2009
2009-11-12
(NGM:PETS B)
* Excellent oil flow rates from the second exploration well
* Two new licenses increase company's license area by a factor of ten
* Option to acquire significant equity interest in Tomsk Refining AB
* The merger with Shelton estimated to be completed in December 2009
* The company is in an exploration phase, and oil and gas sales have not yet begun
* Result for the period after tax: SEK -11 (-6) million
* Result per share before and after dilution: SEK -0.08 (-0.04)
PETROSIBIR AB: PETROSIBIR OBTAINS OPTION TO ACQUIRE SHARES IN TOMSK REFINING AB
2009-11-12
(NGM:PETS B)
Petrosibir today reached an agreement with Mr. Michail Malyarenko, one of the largest shareholders in the Swedish registered refinery Tomsk Refining. The agreement gives Petrosibir an option to acquire Mr. Malyarenko's shares in Tomsk Refining, equal to 17.5 per cent of the outstanding shares, if Petrosibir grants a loan to Mr. Malyarenko. Petrosibir intends to initiate discussions with the other shareholders in Tomsk Refining about potentially combining the two companies.
PETROSIBIR AB: SHELTON ANNOUNCES COURT APPROVAL AND NEW DATE FOR EGM
2009-11-06
(NGM: PETS B)
Shelton has successfully made an application to the Court of Queen's Bench of Alberta for approval of an Interim Order for the plan of arrangement and for Shelton to convene an EGM in connection with the business combination between Petrosibir and Shelton. It is expected that the shareholders' meeting will be held on or before 15 December 2009.
PETROSIBIR AB: COMMUNIQUÉ FROM EXTRAORDINARY SHAREHOLDERS' MEETING
2009-10-28
(NGM:PETS)
At an extraordinary meeting of shareholders of Petrosibir held today, shareholders unanimously adopted resolutions on granting of authority to the board of directors.
PETROSIBIR AB: NOTICE TO ATTEND THE EXTRAORDINARY MEETING OF SHAREHOLDERS OF PETROSIBIR AB (PUBL)
2009-10-12
(NGM:PETS B)
The shareholders of Petrosibir AB (publ) ("Petrosibir" or the "Company") are hereby given notice to attend its extraordinary general shareholders' meeting ("EGM"), to be held Wednesday, 28 October 2009 at 10:00 CET at the law offices of Kilpatrick Stockton at Hovslagargatan 5 B, 5th floor, in Stockholm, Sweden.
PETROSIBIR AB: EXPANSION CONTINUES WITH THIRD LICENSE
2009-10-08
(NGM:PETS B)
Petrosibir has been awarded yet another license in the Russian republic of Bashkiria. With an area of 300 square kilometers, the new license Suyanovskoye is the largest thus far for the company and is surrounded by other producing oil fields. In less than a month, Petrosibir has increased its original total license area by a factor of ten, resulting in a continuous block of 540 square kilometers.
PETROSIBIR AB: SHELTON PROVIDES OPERATIONAL UPDATE
2009-10-08
(NGM:PETS B)
On 15 July 2009, Petrosibir announced that it had entered into a merger agreement with Shelton Canada Corp., a publicly traded Canadian company listed on the Toronto Venture Exchange ("TSX-V") in Canada (STO.V). Shelton recently published a press release with the following operational update.
PETROSIBIR AB: GOOD OIL FLOW RATES FROM PETROSIBIR'S SECOND WELL
2009-10-02
Petrosibir has completed the drilling of the second of two exploration wells in its Rustamovskoye field in the Russian republic of Bashkiria. Oil and gas have been found also in the second well. A recently completed drill stem test in the second well indicated an extrapolated well flow rate of 700 barrels per day.
PETROSIBIR AB: UPDATE ON PETROSIBIR-SHELTON MERGER
2009-10-02
Since the announcement concerning the intended business combination, Petrosibir and Shelton have conducted visits of each other's operations in Russia and Ukraine, respectively, and taken several steps to complete the merger. Petrosibir and Shelton are very satisfied with the increased knowledge that has been gathered about the companies' licenses and operations. Shelton intends to hold an extraordinary meeting of shareholders on 6 November 2009.
PETROSIBIR AB: PETROSIBIR AWARDED NEW LICENSE IN BASHKIRIA
2009-09-21
(NGM:PETS B)
Petrosibir has been awarded a new exploration license in the Russian republic of Bashkiria. The new license area, Aysky, is 187 square kilometers and lies directly to the east of the company's first license area, Rustamovskoye. The awarding of the Aysky license means that the company's total license area has more than quadrupled to a surface area of 240 square kilometers.
PETROSIBIR AB: PETROSIBIR RECRUITS CFO
2009-09-03
(NGM:PETS B)
Petrosibir is delighted to announce today that Joakim Hedlund joins the company as chief financial officer. Hedlund brings with him considerable experience and expertise, having most recently spent more than nine years in the investment banking division at Carnegie Investment Bank AB in Stockholm.
PETROSIBIR AB: INTERIM REPORT JANUARY-JUNE 2009
2009-08-20
(NGM:PETS B)
* Change in operations to oil and gas exploration and name change to Petrosibir
* Gas formation penetrated in the second exploration well
* First oil reserves of 10 million barrels C1+C2 registered with the GKZ
* Merger with Shelton Canada will create a growth company with exploration and production activities in Russia and Ukraine
* The company is in the exploration phase and sales of oil and gas have not yet started
* After tax result for the period: SEK -9 million (SEK -4 million)
* Earnings per share: SEK -0,09 (SEK -0,05)
PETROSIBIR AB: PETROSIBIR REGISTERS FIRST RESERVES
2009-08-19
(NGM: PETS B)
Following the success of its exploration program, Petrosibir has now registered its first reserves from the Rustamovskoye license block with the Russian state reserves committee. Registered proven and probable reserves (C1 + C2 in the Russian classification system) amount to approx. 10 million barrels of oil. The reserve calculation covers only the northern part of the Rustamovskoye license block and is based solely on the first well. Petrosibir anticipates a gradual increase in reserves as the exploration program progresses.
PETROSIBIR AB: UPDATE TO TRANSACTION SCHEDULE IN MERGER OF PETROSIBIR AND SHELTON
2009-07-20
Structure of the transaction
Petrosibir's merger with Shelton will be effected as a Plan of Arrangement under Canadian law, in which Petrosibir (via a Canadian subsidiary) merges with Shelton. Among other things, the merger is conditional upon approval at an extraordinary meeting of Shelton shareholders, which is scheduled to be held before the end of the month of September. In order to be declared valid, a resolution must be passed by a two-thirds majority of the shares represented at the meeting. If this occurs and the other conditions for the transaction are also met, Petrosibir will acquire all of Shelton's outstanding shares, subscription options, warrants and convertibles, and the holders of these securities will receive newly-issued B-shares in Petrosibir in return. Shelton will then become a wholly-owned subsidiary of Petrosibir.
The merger is thus based on the decision taken at the extraordinary meeting of Shelton's shareholders and not on a public offering by Petrosibir to each of Shelton's shareholders. Acquisitions by way of Plans of Arrangement are commonplace in Canada, and they have been applied in multiple transactions with a Swedish link, including Lundin Petroleum's acquisition of Valkyries Petroleum, Lundin Mining's acquisition of EuroZinc Mining, and Tenke Mining and SSAB's acquisition of IPSCO.
TEMPORÄR FÖRVALTNING I STOCKHOLM: NAME CHANGE NOW REGISTERED AND NEW TICKER (PETS)
2009-07-16
(NGM: TEMP B)
The name change of Temporär Förvaltning i Stockholm AB (TFS) to Petrosibir AB has now been registered with Bolagsverket, the Swedish Companies Registration Office. Starting Monday, 20 July 2009, the company's share will be traded on the NGM stock exchange under the symbol PETS.
TEMPORÄR FÖRVALTNING I STOCKHOLM: PETROSIBIR AND SHELTON TO ENTER INTO BUSINESS COMBINATION
2009-07-16
(NGM:TEMP B)
Petrosibir AB ("Petrosibir" 1), a Swedish public company listed on the Nordic Growth Market in Stockholm, Sweden (TEMP B) and Shelton Canada Corp. ("Shelton"), a Canadian public company listed on the TSX Venture Exchange ("TSX-V") in Canada (STO.V) are pleased to announce that they have entered into an agreement that provides for the combination of the two companies (the "Transaction"). The Transaction will create a growth focused oil and gas exploration and production enterprise with interests in a diversified portfolio of oil and gas assets in Russia and Ukraine. The resulting combined company will have reserves of approx. 8 million barrels of oil equivalent (P1 and P2) and estimated resources of approx. 100 million barrels of oil equivalent.
1) Currently trading under the name Temporär Förvaltning i Stockholm AB until a change of name to Petrosibir AB has been effected.
TEMPORÄR FÖRVALTNING I STOCKHOLM: COMMUNIQUE FROM SHAREHOLDERS' MEETING AND NEW CEO OF THE "NEW" PETROSIBIR
2009-07-09
(NGM:TEMP B)
At the extraordinary meeting of shareholders of Temporär Förvaltning i Stockholm AB ("TFS") held today, shareholders adopted a number of resolutions to change, among other things, the company's name to Petrosibir AB. At the board meeting immediately following, Robert Karlsson was elected CEO of the "new" Petrosibir.
TEMPORÄR FÖRVALTNING I STOCKHOLM: PETROSIBIR FINDS GAS FORMATION ALSO IN SECOND WELL
2009-07-08
(NGM:TEMP B)
Following the success of the first exploration well, Petrosibir has now found gas in its second exploration well. Core samples and a programme of well logging confirm the presence of gas.
TEMPORÄR FÖRVALTNING I STOCKHOLM: CHANGE IN NUMBER OF SHARES AND VOTES
2009-06-30
(NGM: TEMP B)
The offer by Temporär Förvaltning i Stockholm AB ("TFS") to the shareholders of Petrosibir AB has entailed a change in the number of shares and votes in TFS.
All shareholders in Petrosibir have accepted the offer
2 June 2009
Temporär Förvaltning i Stockholm AB's (TFS) offer to the shareholders in Petrosibir has been accepted by one hundred per cent of the shareholders.
Notice to Attend the Annual General Meeting of Petrosibir AB (publ)
27 May 2009
The shareholders of Petrosibir AB (publ) (the "Company") are hereby given notice to attend its annual general meeting, to be held on 24 June 2009 at 13:00 CET at the offices of the law firm Delphi on Regeringsgatan 30-32, Stockholm, Sweden.
TFS follows through with its offer to Petrosibir shareholders
25 May 2009
TFS's offer to the shareholders of Petrosibir has gained a high degree of acceptance. Upon the expiry of the regular application period, owners of over 97 per cent of the shares of Petrosibir had accepted the offer.
Prospectus released
29 April 2009
The prospectus regarding the offer by Temporär Förvaltning i Stockholm AB ("TFS") to the shareholders of Petrosibir has now been released and is available for download at TFS' website, www.temporarforvaltningistockholm.se.
Petrosibir's board of directors recommends the bid
27 February 2009
The board of directors of Temporär Förvaltning i Stockholm AB has today announced that it intends to make an offer for the shares in Petrosibir. The board of directors of Petrosibir recommends the shareholders to accept the offer. This merger would provide the already successful Swedish oil company with a platform from which to develop the company and take advantage of all the attractive business opportunities that the Russian oil market offers.
Merger talks with NGM Holding
27 January 2009
Petrosibir featured in Dagens Industri (in Swedish)
27 March 2008
Results from the first well
25 February 2008
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