FOR IMMEDIATE RELEASE FRIDAY, DECEMBER 16, 2005

Storm Exploration Inc. (SEO-TSX) Announces its 2006 Capital Expenditure Program

Storm Exploration Inc. (Storm) has finalized its 2006 capital expenditure plan. Approximately $50 million will be invested on exploration and development activities with 60% directed to drilling activities, 15% to land and seismic, 15% to facilities, and 10% for workovers. Significant activities will include:

• Drilling 45 wells (28 net) with 29 in the Peace River Arch, 10 at Red Earth, 5 at Cabin and Junior, and 1 at Brazeau. A total of 17 wells are planned for the first quarter with the remaining 28 wells being drilled in the third and fourth quarters.
• Shooting two 3-D seismic programs covering over 50 square kilometers at Cabin and Junior.
• Installing a second compressor at Parkland to increase the gross capacity from 9 mmcf/d to 18 mmcf/d (75% Storm).

Storm estimates that production will be approximately 4,000 boe/d at the start of 2006 and will increase to approximately 5,000 boe/d by the end of 2006.

With respect to 2005 results, Storm estimates that production will be approximately 3,700 boe/d in the fourth quarter and 3,350 boe/d for the full year. To date in the fourth quarter, eight wells (5.0 net) have been drilled resulting in four gas wells (2.8 net), one oil well (0.5 net), and three dry holes (1.6 net). Storm expects to drill another six wells (3.4 net) by year-end.

Forward Looking Statements: Certain information set forth in this press release, including management’s assessment of Storm’s future plans and operations contain forward looking statements that involve substantial known and unknown risks and uncertainties. These risks and uncertainties, many of which are beyond Storm’s control, include the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, geological and engineering risks, imprecision of production and reserve estimates, environmental risks, competition from other producers, the lack of available qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Storm’s actual results, performance, or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any events anticipated by these forward looking statements will transpire or occur and, if any of them do, what costs and benefits will be derived from them. The forward looking statements contained in this press release are made as of the date of this press release and Storm does not undertake to update publicly or revise any of the forward looking statements included herein in response to new information, future events or any other circumstances whatsoever. Further, where reserves and production are stated on a barrel of oil equivalent basis (“boe”), natural gas volumes have been converted to a boe equivalent using a ratio of 6,000 cubic feet of natural gas to one barrel of oil. This conversion ratio is based upon an energy equivalent conversion method primarily applicable at the burner tip and does not represent a value equivalence at the wellhead. Accordingly, reference to boes may be misleading, particularly if used in isolation.

This news release is not for dissemination in the United States or to any United States news services. The common shares of Storm have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold in the United States or to any U.S. person except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

For further information, please contact: Brian Lavergne, President & CEO or, Donald McLean, Chief Financial Officer, Telephone: (403) 264-3520, Fax: (403) 264-3552.