Funds Managed by Libra Advisors, LLC Acquire Shares of Storm Exploration Inc.
for Investment Purposes

TORONTO, Aug. 11 /CNW/ - Libra Advisors, LLC ("Libra") announced today that Libra Fund, L.P. and Libra Offshore Master Fund, L.P. (the "Funds") acquired 250,000 common shares of Storm Exploration Inc. ("Storm") at an average price of $13.45 per share.

As a result of this acquisition, the Funds now hold 7,001,698 common shares representing approximately 15.19% of the total outstanding common shares of Storm.

The Funds acquired the common shares for investment purposes and may, from time to time, acquire additional securities of Storm or dispose of such securities as they may deem appropriate.

Libra is the investment advisor to Libra Fund, L.P. and Libra Offshore Master Fund, L.P. with principal offices at 909 Third Avenue, 29th Floor, New York, NY 10022.

For further information: Mr. Ranjan Tandon, Managing Member, at [phone]