Storm Resources Ltd. Announces Reserves Associated With the Acquisition of Bellamont Exploration Ltd.

CALGARY, ALBERTA--(Marketwire - April 12, 2012) -

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STORM RESOURCES LTD. ("Storm") (TSX VENTURE:SRX) announces the results of a reserves evaluation for the assets of Bellamont Exploration Ltd. ("Bellamont") which was completed by independent reserve evaluator InSite Petroleum Consultants Ltd. ("InSite"). Storm completed the acquisition of Bellamont on March 23, 2012. InSite's reserve evaluation is effective March 31, 2012 and was prepared in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook") and complies with National Instrument NI 51-101 - Standards of Disclosure for Oil and Gas Activities. The reserve evaluation was based on InSite's forecast pricing and foreign exchange rates at December 31, 2011 which are shown below. Storm's Reserves Committee did not formally review the evaluation completed by InSite.

InSite has estimated that proved reserves total 4,611 Mboe and proved plus probable reserves total 8,340 Mboe. Future development costs ("FDC") were estimated to be $7.6 million on a proved basis and $42.4 million on a proved plus probable basis. Using the total purchase price of $95.8 million, the all-in cost to add proved reserves was $22.42 per Boe and for proved plus probable reserves was $16.57 per Boe. The all-in calculation assumes no value is assigned for undeveloped land and includes future development costs. Based on Bellamont's operating netback of $28.04 in 2011, the recycle ratio associated with acquiring Bellamont is 1.7 times on a proved plus probable basis (including FDC).

Gross Bellamont Interest Reserves as at March 31, 2012

(Before deduction of royalties payable, not including royalties receivable)

	Light Crude Oil (Mbbls	)	Sales Gas (MMcf	)	NGL (Mbbls	)	6:1 Oil Equivalent (Mboe	)
Proved producing	2,168		9,982		197		4,028
Proved non-producing	160		647		15		283
Total proved developed	2,328		10,629		212		4,311
Proved undeveloped	300		0		0		300
Total proved	2,628		10,629		212		4,611
Probable additional	1,571		11,405		257		3,729
Total proved plus probable	4,199		22,034		469		8,340

Note: Numbers may not add due to rounding.

Future Development Costs

Proved
Grimshaw			3.0 net horizontals		$	7.5 million
	Other				$	0.1 million
Total proved FDC					$	7.6 million
Proved Plus Probable Additional
	Grimshaw		5.0 net horizontals		$	12.6 million
	Grand Prairie Montney		5.0 net horizontals		$	22.1 million
	Grande Prairie Dunvegan		3.0 net horizontals		$	6.1 million
	Other				$	1.7 million
Total proved plus probable additional FDC					$	42.4 million

Note: Numbers may not add due to rounding.

	Proved Expenditures			Proved Plus Probable Additional Expenditures
2012	$	7.6 million		$	14.3 million
2013		-		$	18.9 million
2014		-		$	4.7 million
2015		-		$	4.5 million

Net Present Value Summary (before tax) as at March 31, 2012

InSite's price forecast at December 31, 2011 was used to determine all estimates of future net revenue (also referred to as net present value or NPV). No provision was made for interest, debt service charges and general and administrative expenses. It should not be assumed that the NPVs as estimated by InSite represent the fair market value of the reserves. The calculated NPVs include a deduction for estimated future well abandonment costs.

	Undiscounted (000s		)	Discounted at 5% (000s		)	Discounted at 10% (000s		)	Discounted at 15% (000s		)	Discounted at 20% (000s		)
Proved producing	$	131,297		$	98,946		$	80,199		$	67,977		$	59,373
Proved non-producing		9,552			7,966			6,859			6,052			5,440
Total proved developed	$	140,849		$	106,912		$	87,058		$	74,029		$	64,813
Proved undeveloped		6,183			4,030			2,527			1,433			609
Total proved	$	147,031		$	110,942		$	89,586		$	75,462		$	65,422
Probable additional		98,569			58,712			38,130			25,993			18,185
Total proved plus probable	$	245,601		$	169,654		$	127,716		$	101,455		$	83,607

Note: Numbers may not add due to rounding.

InSite Escalating Price Forecast as at December 31, 2011

In calculating net present values, reference prices are adjusted for the quality of the product and for transportation costs.

	WTI Crude Oil (US$/Bbl	)	Edmonton Light Crude Oil (Cdn$/Bbl	)	Henry Hub Natural Gas (US$/Mmbtu	)	AECO Natural Gas (Cdn$/Mmbtu	)	Propane (Cdn$/Bbl	)	Butane (Cdn$/Bbl	)
2012	100.00		98.00		3.90		3.45		58.80		73.50
2013	101.00		99.00		4.50		4.04		59.40		74.25
2014	102.00		99.96		5.00		4.53		59.98		74.97
2015	103.00		100.92		5.50		5.02		60.55		75.69
2016	104.00		101.88		6.00		5.51		61.13		76.41

InSite Forecast Wellhead Prices and Actual 2011 Wellhead Prices

(after deduction of transportation costs)

Reflects actual wellhead price after adjusting for quality and for transportation costs.

	Crude Oil (Cdn$/Bbl	)	Natural Gas (Cdn$/mcf	)	Natural Gas Liquids (Cdn$/bbl	)	Per Boe (Cdn$/Boe	)
2011 actual	86.03		3.84		71.29		52.13
2012 Apr-Dec forecast	88.39		3.65		73.23		56.64
2013 forecast	89.95		4.36		72.86		60.19
2014 forecast	91.35		4.92		73.39		62.48
2015 forecast	92.48		5.50		73.67		62.43
2016 forecast	93.27		6.06		74.56		65.49

Storm Resources Ltd. began operations in August 2010. Storm is headquartered in Calgary, Alberta and is active in the Horn River Basin and Umbach areas of north eastern British Columbia, and in the Grande Prairie area of north western Alberta.

READER ADVISORIES

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 report 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.

Certain information in this press release contains forward-looking information that involves risk and uncertainty. For this purpose, any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements often contain terms such as "may", "will", "should", "anticipate", "expects" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Storm assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.