Storm Exploration Inc. has its origins in Storm Energy Inc., a junior exploration and development company which was recapitalized in 1998 by a group largely consisting of members of Storm Exploration's Board of Directors. From 1998 to 2002 Storm Energy Inc's production grew tenfold, to approximately 12,000 Boe per day, largely based on high netback light sweet crude from Red Earth in north central Alberta and natural gas from north eastern British Columbia.

In August 2002, Storm Energy's assets were divided between a successor exploration company, Storm Energy Ltd., and a newly created gas weighted royalty trust, Focus Energy Trust. All of the existing management of Storm stayed with the successor Storm company, with new management being installed at Focus. The exploration properties of Storm Energy Inc. were transferred to the new Storm company, as well as producing properties providing approximately 3,000 Boe per day, largely high netback light sweet crude. During the period from August 2002 until mid 2004, production grew 60% to 5,000 Boe per day.

In the spring of 2004 Storm entered into discussions with Harvest Energy Trust, which resulted in Harvest acquiring Storm under a Plan of Arrangement, which also saw the emergence of Storm Exploration Inc. as a new exploration and development company owning substantially all of predecessor Storm's exploratory acreage as well as 900 Boe of production. Management of Storm Exploration had the same or similar positions in the prior Storm companies and will continue to evolve and execute the strategies effectively deployed in the predecessor entities.

Since 2004 Storm's production base has grown six-fold both through drilling and through acquisitions. The company operates close to 100% of its properties and maintains a drilling inventory equivalent to about two years' field activity. Field programs are financed by cash flow with debt and, if necessary, equity being used to fund acquisitions. Since 2004 there has been continuity of management and staff who have many years of experience with Storm's core areas.