Shelton Canada Corp.
TSX VENTURE : STO

Shelton Canada Corp.

November 30, 2009 14:56 ET

Shelton Reports Third Quarter Results

CALGARY, ALBERTA--(Marketwire - Nov. 30, 2009) - Shelton Canada Corp. ("Shelton" or the "Company") (TSX VENTURE:STO) today announced its financial and operating results for the three and nine months ended September 30, 2009. These financial statements as well as the Management's Discussion and Analysis for the said period may be found on the Company's website at www.sheltoncdn.com or on SEDAR at www.sedar.com.

Further to the press release dated November 26, 2009, in which Management confirmed the mailing of the information circular in respect to the contemplated Plan of Arrangement with Petrosibir A.B., Management is finalizing preparations for the Annual and Special meeting scheduled for December 16, 2009.

Operationally, the Company has finalized all the contracts to drill a development well #304-A in the Lelyaki field with a proposed spud date of January 1, 2010. The mobilization of the drilling equipment has already commenced. The re-worked wells #60 and #178 are producing again with approximately 15 barrels of oil per day each, net to Shelton.

About Shelton Canada Corp.:

Shelton Canada Corp. (www.sheltoncdn.com), a Canadian-based junior oil and gas company, is focused on exploring and developing the resource-rich basins of Ukraine. The company has an internationally experienced board of directors and a long history of successful operations in Ukraine. These competitive advantages have helped Shelton to build effective personal relationships, strategic regional partnerships, and a large land position and a portfolio of projects on and offshore. Shelton's long-term goals are to become the leader in oil and gas production from the resource-rich Azov and Black Sea basins.

Forward-Looking Information

Except for statements of historical fact relating to the company, this news release contains certain "forward-looking information" within the meaning of applicable securities law. 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 Canada Corp.'s control, and no assurance can be given that such events will occur on time or at all. Shelton Canada Corp. undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. The risks and uncertainties set forth above are not exhaustive. 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.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

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