NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES


Petrosibir AB ("Petrosibir"), a Swedish public company listed on the Nordic
Growth Market in Stockholm, Sweden (PETS) and Shelton Canada Corp. ("Shelton"),
a Canadian public company listed on the TSX Venture Exchange (TSX-V) in Canada
(TSX VENTURE:STO) announce that 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 plan of arrangement. 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 annual and special meeting
of shareholders on November 6, 2009.


Since the announcement of July 15, 2009 on the intended business combination of
Petrosibir and Shelton, both companies have been intensively engaged in
finalizing their due diligence, obtaining a fairness opinion for Shelton
shareholders, obtaining a technical report (NI 51-101 Report) for Petrosibir and
preparing the Information Circular to be disseminated to Shelton shareholders in
connection with the Shelton annual and special meeting of shareholders.


The date for the Shelton annual and special meeting of shareholders has been
tentatively set for November 6, 2009. This is later than the schedule indicated
previously, due to the fact that the formal documentation requirements have been
expanded to include a technical report. At this annual and special shareholders'
meeting, Shelton shareholders will have the opportunity to vote on the Plan of
Arrangement, which, if approved, will result in Shelton becoming a wholly-owned
subsidiary of Petrosibir via the exchange of Shelton shares for new Petrosibir
shares. Petrosibir's management and directors have begun preliminary work to
list the new Petrosibir shares on the TSX Venture Exchange in Canada. Prior to
the annual and special meeting of shareholders and once the Information Circular
and due diligence process are complete, the companies will jointly apply to the
Court of Queen's Bench of Alberta, Canada, for approval of the Plan of
Arrangement.


Following the completion of the plan of arrangement, Petrosibir AB intends to
change its name to Shelton Petroleum AB.


Forward-Looking Information

Except for statements of historical fact relating to Shelton, this news release
may contain certain "forward-looking information" within the meaning of
applicable securities law including opinions, assumptions, estimates and
management's assessment of future plans and operations, budgeted capital
expenditures and funding thereof. Forward-looking information in this news
release is characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate", and other similar words, or statements that
certain events or conditions "may" "will" or "could" occur. There are
uncertainties inherent in forward-looking information, including factors beyond
Shelton's control, and no assurance can be given that such events will occur on
time or at all. BOEs may be misleading, particularly if used in isolation. A BOE
conversion ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion
method primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead.


About Petrosibir

Petrosibir is a Swedish company focused on oil and gas exploration. The company
holds two exploration licenses in the Russian republic of Bashkiria, located
southwest of the Ural Mountains. The license blocks, which border one another,
are 52 square km (Rustamovskoye) and 187 square km (Aysky), and are surrounded
by other producing oil fields. Petrosibir has found oil in its first and second
well and measured commercial flow rates. The Petrosibir share is traded on the
NGM stock exchange under the symbol PETS. In July 2009 Petrosibir announced that
it had entered into a plan of arrangement agreement with Shelton Canada Corp, a
Canadian company that has oil and gas assets in Ukraine and is listed on the TSX
Venture Exchange.


About Shelton

Shelton Canada Corp. (www.sheltoncdn.com) is a junior oil and gas company
actively engaged in exploration and development activities in Ukraine. It has
internationally experience Board of Directors. It has assembled a strong
portfolio of oil and gas projects onshore and offshore, strategically balancing
low-cost development and lower-risk exploitation targets with carefully
assessed, higher-risk, higher-yield exploration opportunities. In July 2009
Shelton announced that it had entered into a plan of arrangement agreement with
Petrosibir AB, a Swedish public company listed on the Nordic Growth Market in
Stockholm. Shelton 's shares trade on the TSX Venture Exchange under the symbol
STO.