Shelton Petroleum AB: Maks Grinfeld and Mats Jansson Resign Board Due to Potential Conflict of Interests
On 22 January 2014 Shelton Petroleum AB announced an offer to acquire all the outstanding shares in Petrogrand AB. Maks Grinfeld and Mats Jansson are board members of both Shelton Petroleum and Petrogrand. Maks Grinfeld is also the CEO of Petrogrand. Due to the potential conflict of interest that may …
Petrogrand’s Board Rejects Increased Offer From Shelton Petroleum
Shelton Petroleum AB announced an offer to acquire all outstanding shares in Petrogrand AB for a consideration of 0.30 Shelton B shares for each Petrogrand share. On 24 February 2014, the Board of Directors of Petrogrand commented Shelton’s offer and advised Petrogrand’s shareholders not to accept the offer. Since Petrogrand’s …
Shelton Petroleum: Ups Offer for Petrogrand and Increases Acceptance Time
On 22 January 2014 Shelton Petroleum AB announced an offer to acquire all outstanding shares in Petrogrand AB for a consideration of 0.30 Shelton B shares for each Petrogrand share. On 17 February 2014 Shelton published a prospectus which is also an offer document regarding the Offer (the “Prospectus”). The …
Petrogrand’s Board’s Recommends Rejecting Shelton Petroleum’s Public Offer
On 22 January 2014, Shelton Petroleum AB submitted a public offer to the shareholders of Petrogrand. The Board of Directors of Petrogrand has engaged ABG Sundal Collier Norway ASA “ABG Sundal Collier” for making an independent valuation of Shelton Petroleum AB and its assets. ABG Sundal Collier is considered the …
Shelton Petroleum AB: Production report for November 2013
Shelton Petroleum’s total oil production in November 2013 amounted to 30,060 barrels, equivalent to 1,002 barrels per day. Shelton Petroleum holds 100% of the Rustamovskoye license in Russia. Shelton Petroleum has a 45% working interest in Kashtan Petroleum (holder of the license to the Lelyaki oil field) through its wholly …