THE STORM ADVANTAGE
Storm Resources Ltd. commenced operations on August 17, 2010 after certain assets were transferred to Storm as part of the Plan of Arrangement involving the sale of Storm Exploration Inc. to ARC Resources Ltd. The Storm management team has been involved in the growth of all three previous 'Storm' companies since November 1998. The primary asset transferred to the new Storm entity (the fourth 'Storm') was undeveloped lands totalling approximately 117,200 net acres in the Horn River Basin ("HRB"), Umbach and Cabin/Kotcho/Junior areas in northeast British Columbia.
On January 12, 2012 Storm acquired Storm Gas Resource Corp. and on March 23, 2012 Storm acquired Bellamont Exploration Ltd. Storm Gas was a strategic consolidation giving Storm 100% working interest in the Horn River Basin resource. The Bellamont acquisition added light oil and cash flow to advance development of the Montney at Umbach.
Storm's efforts in the near term will be focused on advancing development of the liquids-rich Montney natural gas resource on its large land position at Umbach. Longer term, Storm continues to retain significant leverage to an improvement in natural gas prices through our position in the Muskwa and Otter Park shales of the Horn River Basin.