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NASDAQ OMX Welcomes Shelton Petroleum AB to the Main Market

NASDAQ OMX (NASDAQ:NDAQ) announced that Shelton Petroleum AB (SHEL B), a Small Cap company within the Oil & Gas sector, today starts trading of its shares on the main market of NASDAQ OMX Stockholm. Shelton Petroleum was previously listed on NGM Equity and is the sixth company to list on NASDAQ OMX Nordic main markets this year.

Shelton Petroleum is a Swedish company focused on exploring and developing concessions in Russia and the resource-rich basins of Ukraine. The company holds three licenses in the Volga-Urals area 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, two leading Ukrainian oil and gas companies.

Robert Karlsson, CEO of Shelton Petroleum, said: “We have taken Shelton Petroleum from pure exploration into production. We have a significant potential in our license portfolio and have identified several interesting growth opportunities on our markets. The migration to a more recognized stock exchange is a natural step that will open new opportunities for the shareholders and the company”.

Adam Kostyal, Senior Vice President at NASDAQ OMX, commented, “Shelton operates in a market with tremendous growth potential and will make an exciting addition to the Oil & Gas sector on our main market. Shelton Petroleum is one of many companies listed at alternative growth markets that have opted for a switch to NASDAQ OMX in order to take advantage of the unique investor exposure and strong liquidity that we offer”.