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 has successfully developed its portfolio of oil and gas assets, and it is a natural and important step for us to become listed on NASDAQ OMX. Among other things, listing on an exchange that is better known internationally will facilitate trading for our shareholders in North America and Ukraine. This will lead to greater liquidity in the share and a stronger position in the capital markets," says Robert Karlsson, CEO of Shelton Petroleum.

Until this year, Shelton Petroleum was purely an exploration company. From 1 January the company has been reporting revenues from the sale of oil from the Lelyaki field in Chernigov Region outside Poltava in Ukraine. With this, Shelton Petroleum has entered into a production phase.

Tags: Shelton Petroleum