wells completed - 
 grossHorizontal 
 wells starting 
 production - 
 gross 
(1)  Approximately 50% of natural gas sales are at the 
      daily or spot price and 50% at the monthly index price. 
(2)  Based on the mid-point for each of revenue net of 
      transportation, royalty rate and production costs. 
(3)  Based on the range for forecast annual production 
      and using the mid-points for the estimated field operating 
      netback, estimated cash G&A, estimated hedging gain 
      or loss and estimated interest expense. 
2021 Investment and Activity by Area 
            Capital        % for           Net Wells  Net Wells   Net Wells 
            Investment     Infrastructure   Drilled    Completed  Starting 
            ($million)                                            Production 
Fireweed        $42 - $45             50%        4.0         2.5           2.0 
Nig Creek       $31 - $32             25%        4.0         4.0           4.0 
Umbach          $42 - $43                        5.0         8.0           8.0 
Total         $115 - $120                       13.0        14.5          14.0 
2021 Guidance History 
        ChicagoDaily(US$/Mmbtu)   BC Station        WTI(US$/Bbl)   Capital Investment($   ForecastAnnualFunds   Forecast 
                                  2Daily(Cdn$/GJ)                  million)               Flow($ million)       AnnualProduction(Boe/d) 
Nov 
 10, 
 2020                     $2.65             $2.50            $40               $85 - $90            $90 - $99           26,000 - 28,000 
Mar 
 2, 
 2021                     $3.50             $2.55            $51               $85 - $90          $109 - $120           26,000 - 28,000 
May 
 12, 
 2021                     $3.50             $2.55            $57               $85 - $90          $112 - $122           26,000 - 28,000 
Aug 
 11, 
 2021                     $4.10             $3.20            $65             $110 - $115          $135 - $149           26,000 - 28,000 
Nov 
 10, 
 2021                     $4.70             $3.30            $68             $115 - $120          $148 - $156           27,000 - 28,000 

First production was achieved from the Fireweed area after start-up of the new facility on November 4, 2021 with net sales currently being approximately 2,100 Boe per day from three wells (1.5 net). Four additional wells (2.0 net) are expected to start production by early January. To date, completion results have been encouraging and management is optimistic regarding future well performance.

The financial liability for future hedges increased to $78 million at the end of the third quarter from $47 million at the end of the previous quarter. With the improvement in the balance sheet and given the backwardation in pricing (future prices are below current spot prices), hedging activity has been reduced since last summer. This will result in approximately 45% of current production being hedged six to nine months forward with a lesser volume 10 to 18 months forward (future growth is not hedged).

There is no additional information available at this time regarding the Judgement in the Supreme Court of British Columbia in the Yahey (Blueberry River First Nations) v. British Columbia case on June 29, 2021 which declared that cumulative effects of industrial development have infringed on rights guaranteed under Treaty 8. At this time, the Judgement is not expected to affect Storm's planned activity. Potential longer term effects, if any, are not known at this time.

The summer and fall were busy in terms of field operations with two drilling rigs running from August to October and completion results to date being very encouraging. This is translating into higher production levels in the fourth quarter of 2021 with the successful and safe start-up of the new Fireweed facility being a notable contributor.

Respectfully,

B. Lavergne

Brian Lavergne,

President and Chief Executive Officer

November 10, 2021

Boe Presentation - For the purpose of calculating unit revenues and costs, natural gas is converted to a barrel of oil equivalent ("Boe") using six thousand cubic feet ("Mcf") of natural gas equal to one barrel of oil unless otherwise stated. Boe may be misleading, particularly if used in isolation. A Boe conversion ratio of six Mcf to one barrel ("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. All Boe measurements and conversions in this press release are derived by converting natural gas to oil in the ratio of six thousand cubic feet of gas to one barrel of oil. Mboe means 1,000 Boe.

Initial Production Rates - References to initial production rates ("IP"), and other short-term production rates are useful in confirming the presence of hydrocarbons, however such rates are not determinative of the rates at which such wells will commence production and decline thereafter and are not indicative of long-term performance or of ultimate recovery. Additionally, such rates may also include recovered "load oil" fluids used in well completion stimulation. Readers are cautioned not to place reliance on such rates in calculating the aggregate production for the Company. A pressure transient analysis or well-test interpretation has not been carried out in respect of all wells. Accordingly, the Company cautions that the test results should be considered to be preliminary.

Non-GAAP Measures - This document may refer to the terms "debt including working capital deficiency", "field operating netbacks", "field operating netbacks including hedging", "CROCE", "ROCE", the terms "cash" and "non-cash", "cash costs", "free cash flow" (defined as funds flow less capital expenditures required to maintain current production levels), and measurements "per commodity unit" and "per Boe" which are not recognized under Generally Accepted Accounting Principles ("GAAP") and are regarded as non-GAAP measures. These non-GAAP measures may not be comparable to the calculation of similar amounts for other entities and readers are cautioned that use of such measures to compare enterprises may not be valid. Non-GAAP terms are used to benchmark operations against prior periods and peer group companies and are widely used by investors, analysts and other parties. Additional information relating to certain of these non-GAAP measures can be found in Storm's MD&A dated November 10, 2021 for the period ended September 30, 2021 which is available on Storm's SEDAR profile at www.sedar.com and on Storm's website at www.stormresourcesltd.com.

Forward-Looking Information - This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "will", "would", "expect", "anticipate", "intend", "believe", "plan", "potential", "outlook", "forecast", "estimate", "budget" and similar expressions are intended to identify forward-looking statements or information. More particularly, and without limitation, this press release contains forward-looking statements and information concerning: the Transaction, including the anticipated benefits thereof to Storm and its shareholders and the closing thereof; current and future years' guidance in respect of certain operational and financial metrics, including, but not limited to, commodity pricing, estimated average production costs, estimated average royalty rate, estimated operations capital, estimated general and administrative costs, estimated quarterly and annual production and estimated number of horizontal wells drilled, completed and connected, capital investment plans, infrastructure plans, anticipated United States exports, pipeline capacity, price volatility mitigation strategy and cost reductions. Statements of "reserves" are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described exist in the quantities predicted or estimated and that the reserves can be profitably produced in the future.

The forward-looking statements and information in this press release are based on certain key expectations and assumptions made by Storm, including: prevailing commodity prices and exchange rates; applicable royalty rates and tax laws; future well production rates; reserve and resource volumes; the performance of existing wells; success to be expected in drilling new wells; the adequacy of budgeted capital expenditures to carry out planned activities; the availability and cost of services; and the receipt, in a timely manner, of regulatory and other required approvals. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on these forward-looking statements and information because of their inherent uncertainty. In particular, there is no assurance that exploitation of the Company's undeveloped lands and prospects will result in the emergence of profitable operations.