10  GLYPH<9> GLYPH<14> GLYPH<22> GLYPH<14> GLYPH<9> GLYPH<26> GLYPH<14> GLYPH<22> GLYPH<1> GLYPH<13> GLYPH<10> GLYPH<1> GLYPH<16> GLYPH<14> GLYPH<28> GLYPH<14> GLYPH<25>GLYPH<30> GLYPH<14> GLYPH<9> GLYPH<1> GLYPH<31> GLYPH<4>GLYPH<1> GLYPH<2> GLYPH<3> GLYPH<4> GLYPH<5> GLYPH<1> Storm’ s year-end reserve evaluation effective December 31, 2014 was prepared by InSite Petroleum Consultants Ltd.  (“ InSite” ) under date of February 18, 2015. InSite has evaluated all of Storm’ s crude oil, NGL and natural gas  reserves. The InSite price forecast at December 31, 2014 was used to determine all estimates of future net revenue  (also referred to as net present value or NPV). Storm’ s Reserves Committee which is made up of independent and  appropriately qualified directors, has reviewed and approved the evaluation prepared by InSite, and the report of the  Reserves Committee has been accepted by the Company’ s Board of Directors.  Reserves included herein are stated on a company gross basis (working interest before deduction of royalties without  including any royalty interests) unless noted otherwise. All reserves information has been prepared in accordance  with National Instrument ("NI") 51-101. In addition to the information disclosed in this report, more detailed  information will be included in Storm's Annual Information Form. Summary • Proved developed producing (“ PDP” ) reserves increased 78% to total 13,487 Mboe with additions replacing  332% of 2014 production.  • Total proved (“ 1P” ) reserves increased 187% to total 59,551 Mboe with additions replacing 1,522% of 2014  production.  • Total proved plus probable (“ 2P” ) reserves increased 117% to total 88,024 Mboe with additions replacing  1,863% of 2014 production.  • Total proved reserves were 68% of total proved plus probable reserves, a significant improvement from 51%  in 2013.  • The finding and development (“ F&D” ) cost for reserve additions per NI 51-101 requirements (removing effect  of acquisitions, dispositions and revisions) was $13.73 per Boe for PDP, $10.20 per Boe for 1P and $8.76  per Boe for 2P. • The all-in finding, development, and acquisition (“ FD&A” ) cost (1) to add reserves was $23.01 per Boe for  PDP, $11.68 per Boe for 1P and was $9.64 per Boe for 2P. • Reserve life index using average production in the fourth quarter of 2014 was 3.6 years for PDP reserves,  16.1 years for 1P reserves and 23.3 years for 2P reserves.  • Recycle ratio using the F&D cost was 2.1 for 1P reserve additions and 2.4 for 2P reserve additions using the  2014 field operating netback of $21.19 per Boe excluding hedging gains or losses. • Recycle ratio using the FD&A cost was 1.8 for 1P reserve additions and 2.2 for 2P reserve additions using  the 2014 field operating netback of $21.19 per Boe excluding hedging gains or losses. • Technical revisions increased PDP reserves by 130 Mboe, 1P reserves by 2,068 Mboe and 2P reserves by  4,352 Mboe. • Breaking down 2P reserves by area, 86% is at Umbach, 9% at the Horn River Basin (“ HRB” ) and 5% is at  Grande Prairie.  • Future development costs (“ FDC” ) were $447.7 million on a 1P basis and $606.6 million on a 2P basis which  represents approximately five years of activity in the evaluation. 