Shelton Provides Operational Update on Well No.307 Lelyaki Field Ukraine

Calgary, Canada (ots/PRNewswire) - Shelton Canada Corp.
("Shelton" or the "Company") (TSXV symbol "STO") is pleased to
provide an operational update on its projects in Ukraine.

Kashtan Petroleum Joint Venture - Lelyaki Oil Field: Well No.307
has been cased for production and well completion procedure has been
completed. The well was drilled to total depth of 1960 metres and
encountered measured depth oil saturated porous zones of 5.0 metres
in the lowermost K zone and 8.6 metres in the dolomite reservoir of
the P1+P2 zone. The well has been completed in the K zone and initial
well productivity after cleanup is approximately 38 metric tonnes of
fluid per day with oil cut ranging from 96% to 97.5% (average gross
284 barrels of oil per day and net Shelton of 128 barrels of oil per
day).

Shelton's net volume of production from the Lelyaki Oil Field is
now in excess of 400 barrels of light, 41 degree, oil per day.

Lease construction is nearing completion for the next well No.304
A, with planned spud date early in 2009. This well will be followed
later in 2009 with the drilling of well No.308.

This work is an ongoing part of the Kashtan Petroleum Joint
Ventures plan to fully exploit the remaining oil reserves in the
Lelyaki field through optimal placement of infill production wells.
In addition, the Joint Venture anticipates re-entering and sidetrack
drilling of 4 other suspended wells in different parts of the field
during 2009. These well interventions show very good economics as the
capital cost is much lower than new drilling.

About Shelton Canada Corp.:

Shelton Canada Corp. (http://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 in five years.

Forward-Looking Information

Except for statements of historical fact relating to the company,
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,
wells to be drilled, timing of drilling of wells and expected depths,
budgeted cost of wells, commencement of production from wells and
year-end production rate. 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. Any number of important factors could cause actual
results to differ materially from those in the forward-looking
statements including, but not limited to, risks associated with oil
and gas exploration, development, exploitation, results from testing,
production, marketing and transportation, the volatility of oil and
gas prices, currency fluctuations, the ability to implement corporate
strategies, the state of domestic capital markets, the ability to
obtain financing, incorrect assessment of the value of acquisitions,
failure to realize the anticipated benefits of acquisitions, changes
in oil and gas acquisition and drilling programs, delays resulting
from inability to obtain required regulatory approvals, delays
resulting from inability to obtain drilling rigs and other services,
delays in tie-in-operations, results from testing, environmental
risks, competition from other producers, imprecision of reserve
estimates, changes in general economic conditions and other factors
more fully described from time to time in the reports and filings
made by Shelton with securities regulatory authorities. All of these
risks are applicable to continued development and production form the
Lelyaki Oil Field including the specific actions mentioned in this
Press Release. Specifically with regard to the net income which is
attributable to Shelton from the Kashtan Joint Venture all of it has
been to date reinvested into exploration, development and drilling in
the Lelyaki Field. Arrangements have now been made to have paid
directly to Shelton, commencing January 1, 2009, and thereafter on an
annual basis a dividend comprising Shelton's proportionate share of
net income from the Kashtan Joint Venture. Shelton will then allocate
the dividend proceeds appropriately. The receipt of these funds,
however, is always subject to all of the risk factors mentioned
above. Shelton 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.

"The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release."

For more information on Shelton Canada Corp., visit
http://www.sheltoncdn.com

For further information: For general inquiries and investor
information: Zenon Potoczny, President & CEO, +1-416-252-4101,
info@sheltoncdn.com

ots Originaltext: Shelton Canada Corp.
Im Internet recherchierbar: http://www.presseportal.de

Contact:
For further information: For general inquiries and investor
information: Zenon Potoczny, President & CEO, +1-416-252-4101,
info@sheltoncdn.com