Storm Resources Ltd. Announces Asset Dispositions

STORM RESOURCES LTD. ("Storm") (TSX VENTURE:SRX) has entered into a purchase and
sale agreement in relation to the disposition of approximately 275 Boe per day
in the Grande Prairie area of northwest Alberta. Details of the disposition are
provided below.




--  Disposition price is $18 million. 
--  Closing date is February 12, 2013 with an effective date of January 1,
    2013. 
--  In the third quarter of 2012, production averaged 275 Boe per day (80%
    light oil plus natural gas liquids) and the field netback approximated
    $32.00 per Boe.  
--  The asset contains an estimated 870 Mboe total proved and 1,140 MBoe of
    proved plus probable reserves based on an independent reserve report
    dated March 31, 2012 prepared by InSite Petroleum Consultants Ltd. in
    accordance with National Instrument 51-101. Future development capital
    assigned to the properties was $1.7 million. 



In addition, on January 18, 2013, Storm closed the sale of a minor property,
producing 30 Boe per day, for proceeds of $2.1 million. Total proceeds of $20.1
million from these two dispositions will initially be used to reduce Storm's
bank debt. At December 31, 2012, Storm's adjusted net debt, which includes
working capital deficiency, is forecast to be $40 million. This amount includes
the value of Storm's public company investments. Giving pro forma effect to the
dispositions above, adjusted net debt at December 31, 2012 would approximate $20
million. Storm's bank credit facility is expected to be reduced from $62 million
to $52 million as a consequence of these dispositions. 


These dispositions reflect Storm's commitment to maintaining debt levels at an
acceptable multiple of cash flow and to preserve financial flexibility to pursue
growth opportunities, or to accelerate capital investment on development
activities at existing properties if results are supportive of so doing. 


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
northeast British Columbia, and at Grande Prairie in northwest Alberta. 


FirstEnergy Capital Corp. of Calgary, Alberta, acted as sole agent to Storm for
these dispositions.


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 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.


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 "expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and
similar expressions are intended to identify forward-looking information or
statements. More particularly and without limitation, this press release
contains forward-looking statements and information concerning the company's
working capital and bank facility, reserves, undeveloped land holdings and
anticipated benefits from the disposition. The forward-looking statements and
information are based on certain key expectations and assumptions made by Storm,
including: expectations and assumptions concerning prevailing commodity prices
and exchange rates, applicable royalty rates and tax laws; future well
production rates and reserve volumes; the timing of receipt of regulatory and
shareholder approvals; the performance of existing wells; the success obtained
in drilling new wells; the sufficiency of budgeted capital expenditures in
carrying out planned activities; and the availability and cost of labour and
services. 


Although Storm 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 the forward-looking statements and information
because Storm can give no assurance that they will prove to be correct. Since
forward-looking statements and information address future events and conditions,
by their very nature they involve inherent risks and uncertainties. Actual
results could differ materially from those currently anticipated due to a number
of factors and risks. These include, but are not limited to: the risks
associated with the oil and gas industry in general such as operational risks in
development, exploration and production; delays or changes in plans with respect
to exploration or development projects or capital expenditures; the uncertainty
of reserve estimates; the uncertainty of estimates and projections relating to
reserves, production, costs and expenses; health, safety and environmental
risks; commodity price and exchange rate fluctuations; marketing and
transportation; loss of markets; environmental risks; competition; incorrect
assessment of the value of acquisitions and dispositions; failure to realize the
anticipated benefits of acquisitions and dispositions; ability to access
sufficient capital from internal and external sources; failure to obtain
required regulatory and other approvals; and changes in legislation, including
but not limited to tax laws, royalties and environmental regulations. There are
risks also inherent in the nature of the proposed disposition, including failure
to realize anticipated production or reserve increases and decreases; and
incorrect assessments of values or future capital and operating costs. 


This press release also contains forward-looking statements and information
concerning the anticipated timing for completion of, and the effective date of
the disposition. Storm has provided these anticipated dates in reliance on
certain assumptions believed to be reasonable at this time. Accordingly, readers
should not place undue reliance on the forward-looking statements and
information contained in this press release concerning these dates. Readers are
cautioned that the foregoing list of factors is not exhaustive. Additional
information on these and other factors that could affect Storm's financial
results are included in reports on file with applicable securities regulatory
authorities and may be accessed through the SEDAR website (www.sedar.com), and
on Storm's website (www.stormresourcesltd.com). The forward-looking statements
and information contained in this press release are made as of the date hereof
and Storm undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Storm Resources Ltd.
Brian Lavergne
President and Chief Executive Officer
(403) 817-6145


Storm Resources Ltd.
Donald McLean
Chief Financial Officer
(403) 817-6145


Storm Resources Ltd.
Carol Knudsen
Manager, Corporate Affairs
(403) 817-6145
www.stormresourcesltd.com
Storm Resources Ltd. (TSXV:SRX)
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