pres.htm

1125 17th Street, Suite 2310 Denver, Colorado 80202 303.991.5070
www.stormcatenergy.com
AMEX: SCU І TSX: SME
Investor Relations Contact: William Kent will@stormcatenergy.com

HOWARD WEIL

36TH ANNUAL ENERGY CONFERENCE

APRIL 6-10, 2008

AMEX: SCU | TSX: SME

This presentation contains certain “forward-looking statements”, as defined in the United States Private Securities
Litigation Reform Act of 1995, and within the meaning of Canadian securities legislation, relating to matters such as the
Company’s drilling and other exploration plans and projected well economics. Forward-looking statements are
statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,”
“anticipates,” “believes,” “intends,” “estimates,” ”projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and
similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur. Forward-looking
statements are based on the beliefs, estimates and opinions of Storm Cat’s management on the date the statements
are made; including production and reserve estimates, and potential benefits to Storm Cat of such acquisitions, and
they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will
prove to be accurate and actual results and future events could differ materially from those anticipated in such
statements. Storm Cat undertakes no obligation to update these forward-looking statements if management’s beliefs,
estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from
those anticipated in these forward-looking statements include, but are not limited to receipt of necessary approval from
regulatory bodies, the failure to achieve the anticipated benefits of the acquisition, the failure to close the acquisition,
the volatility of natural gas prices, the possibility that exploration efforts will not yield economically recoverable
quantities of gas, accidents and other risks associated with gas exploration and development operations, the risk that
the Company will encounter unanticipated geological factors, the Company’s need for and ability to obtain additional
financing, the possibility that the Company may not be able to secure permitting and other governmental clearances
necessary to carry out the Company’s exploration and development plans, and the other risk factors discussed in
greater detail in the Company’s various filings on SEDAR (www.sedar.com) with Canadian securities regulators and its
filings with the U.S. Securities and Exchange Commission (www.sec.gov), including the Company’s Form 10-K for the
fiscal year ended December 31, 2007.

Forward-Looking Statements

AMEX: SCU | TSX: SME

Powder River Basin

• Coal Bed Natural Gas

• 99% of Current Production

• 73 Bcf 4P Resource

• 40.1 Bcf Proved Reserves (12/31/07)

Storm Cat Today

• Unconventional Resource Player

– Shale & Coal Bed Natural Gas

– 2.1 Tcf of Recoverable Resource Potential

– Multi Year Drilling Inventory

– Exponential Upside

Three Core Resources

Fayetteville Shale

• Shale Gas

• Production commences 4/08

• 400 Bcf 4P Resource

• 4.4 Bcf Proved Reserves (12/31/07)

Elk Valley, B.C.

• Coal Bed Natural Gas

• Pilot Production - no sales

• 1,645 Bcf 4P Resource

• 7.7 Tcf documented gas in place

AMEX: SCU | TSX: SME

Undervalued Stock Price

1. $5,000/acre based on recent leasing transactions; recent Fayetteville acquisitions priced at $12,000 -
$14,000 per acre; NAV based on $10,000/acre = $2.83/share

2. On a fully diluted basis NAV is $1.44/share; fully diluted NAV using $10,000/acre in Fayetteville is
$2.14 /share

AMEX: SCU | TSX: SME

Solid Reserve Growth

• 78% increase YOY increase in proved reserves

• 208% increase YOY in PV-10

• Reserve replacement ratio of 718%

AMEX: SCU | TSX: SME

Significant Net Production Growth

Note: Volumes shown are wellhead production. To convert to sales point volumes in MMbtu, deduct 12% for fuel and 3.5% for btu adjustment.

AMEX: SCU | TSX: SME

LAND POSITION

• 51,951 Gross Acres

• 35,345 Net Acres

WELLS

• 435 Total

Ш 384 Operated

Ш 51 Non-Operated

• 424 Producing

DAILY PRODUCTION (3/17/08)

• 21.5 mmcf/d Gross

• 12.2 mmcf/d Net

PROVED RESERVES

• 40.1 BCF 12/31/07 SEC

• YE 2007 PV 10: $92.2 MM

2008 CAPEX

• $20.0 MM

• 126 wells

Powder River Basin

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PRB Production Growth

• PRB Net Reserves YE 2006 to YE 2007:

- Increased from 25.0 BCF to 40.1 BCF (P1)

• PRB Net Daily Exit Rate Production 2006 to 2007:

- Increased from 8 MMcf/d to 12 MMcf/d

AMEX: SCU | TSX: SME

Approximately 14,000 net undeveloped acres

PRB Acquisition Acreage

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What the PRB Acquisition Adds

• 14,000 net undeveloped acres

• 175 net drilling locations

• Almost doubles reserve potential in PRB

• Adds 56 net Bcf (unrisked) reserve potential

• Adds 45 net Bcf (risked) reserve potential

• Extends developmental drilling activity
through 2011

AMEX: SCU | TSX: SME

PRB Economics

PARAMETER

RISKED

UNRISKED

Well Cost

$185M

Gross Reserves

182 Mmcf

246 Mmcf

Net Reserves

146 Mmcf

197 Mmcf

PV10

$200M

$335M

ROR

60%

82%

F&D

$1.27/Mcf

$0.94/Mcf

Remaining
Locations

250

Potential &
Remaining Reserves

58 Bcf

73 Bcf

PRB Acquisition
Potential Reserves

45 Bcf

56 Bcf

Potential &
Remaining Reserves
Including Acquisition

103 Bcf

129 Bcf

AMEX: SCU | TSX: SME

Fayetteville Shale

LAND POSITION

• 24,178 Gross Acres

• 18,265 Net Acres

WELLS

• 24 Total

Ш 8 Operated

Ш 16 Non-Operated

• 8 Producing (all non-op)

DAILY PRODUCTION

• 0.3 mmcf/d Net

PROVED RESERVES

• 4.4 Bcf 12/31/07 SEC

• YE 2007 PV 10: $6.2 MM

CURRENT STATUS

• Pipeline construction
completed; initial start-up
underway

• 3 Wells drilled, completed and
awaiting pipeline sales

2008 CAPEX

• $16.0 MM

• 12 gross / 8 net wells

AMEX: SCU | TSX: SME

Well Positioned for Growth

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Fayetteville 2008 Program

• 12 gross / 8 net wells planned

• 5 wells of 2008 program
already spudded

• Utilizing two rigs

– spudder rig

– directional rig

• Estimate 15 days spud to TD

• 3,250’ lateral length

• $2.1 - $2.4 MM per well

AMEX: SCU | TSX: SME

Fayetteville Pipeline Update

• Low pressure system complete

• High pressure lateral complete

• Ozark pipeline tap in place

• Pipeline start-up operations
underway

• Anticipate fully operational mid-
April, 2008

• Capacity of ~100 MMcf/d

Lower Fayetteville Shale

Hindsville Sandstone

Upper Fayetteville Shale

Extended Flow Test

§ IP = 1,750 MCFD

§ 2 week production

average: 1,200 MCFD

Scotland Field

§ IP’s ranging from

0.5 - 2.9 MMCFD

AMEX: SCU | TSX: SME

Fayetteville Horizontal Well Performance

AMEX: SCU | TSX: SME

Fayetteville Horizontal Well Performance

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Fayetteville Economics

PARAMETER

RISKED

UNRISKED

Well Cost

$2,150M

Gross Reserves

1.260 Bcf

2.050 Bcf

Net Reserves

1.008 Bcf

1.641 Bcf

PV10

$1,402M

$2,529M

ROR

36%

49%

F&D

$2.13/Mcf

$1.31/Mcf

Locations

125

250

Potential Reserves

125 Bcf

400 Bcf

AMEX: SCU | TSX: SME

Elk Valley, B.C.

LAND POSITION

• 76,690 Gross & Net Acres

WELLS

• 24 Total Wells

• 9 Currently Producing

• All Operated

2008 CAPEX

• $1.0 MM

• Continue dewatering /
evaluation

Gas Pipeline

To U.S.

Elk Valley

UNITED STATES

AMEX: SCU | TSX: SME

Elk Valley Aggregate Production

Wells offline for work-over
and equipment upgrade

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Encouraged By Water & Gas Rates

Normalized Data w/o Well Downtime

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A-84 Performance

AC-85 Economics (BFIT):

Well Cost: $1,000M

Net Reserves: 0.837 Bcf

ROR: 39%

F&D Costs: $1.19/mcf

10%PW: $1,035M

AMEX: SCU | TSX: SME

Unrealized Up Side

• Goal to drill wells with economics and
repeatability better than the A-C85

• Apply tight gas reservoir learning curve to tight
coals

– Shales - Barnett & Fayetteville

– Tight Gas - Pinedale & Jonah - Wyoming

• Fracture stimulation using tight reservoir
completion techniques appears effective

• Ongoing efforts to lower fluid levels in wellbores

• Third party pipeline discussions underway

AMEX: SCU | TSX: SME

Elk Valley Economics

PARAMETER

RISKED

UNRISKED

Well Cost

$1,000M

Gross Reserves

2.561 Bcf

3.870 Bcf

Net Reserves

2.178 Bcf

3.290 Bcf

PV10

$4,354M

$5,917M

ROR

100%+

F&D

$0.46/mcf

$0.30/mcf

Locations

250

500

Potential
Reserves

550 Bcf

1,645 Bcf

AMEX: SCU | TSX: SME

Long Term Growth Potential

• Current discount to NAV

• Leverage to the Fayetteville

• Predictable, repeatable
asset value growth in the
Powder River Basin

• Significant Elk Valley upside
opportunity

• $38.2 MM 2008 capital
budget

STORM CAT TOTALS

(W/O PRB ACQUISITION)

PARAMETER

RISKED

UNRISKED

ROR RANGE

36% - 100%+

49% - 100%+

F&D RANGE

$0.46 -
$2.13/Mcf

$0.30 -
$1.31/Mcf

LOCATIONS

625

1,000

POTENTIAL
RESERVES

733 Bcf

2,118 Bcf

APPENDIX

AMEX: SCU | TSX: SME

Reserves:

§ Year End 2007 Proved Reserves(a) 44.5 Bcf

Current Shares Outstanding 81.1 million

Fully Diluted Shares Outstanding(b) 130.4 million

Market Capitalization(c) $56.8 million

Credit Facility(d) $50.0 million drawn

Convertible Debt(e) $50.0 million due 2012

Enterprise Value $156.8 million

(a) Powder River Basin & Fayetteville Shale reserves as of 12/31/2007, Netherland, Sewell & Associates, Inc, YE 2007 PV 10: $98.4 MM

(b) Assumes conversion of convertible debt and exercise of all outstanding warrants and options

(d) Amount drawn as of 4/1/08; current borrowing base of $55.0 million

(e) Convertible at $1.17; force convert at $2.05

Key Statistics

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Hedging Summary

PERCENT HEDGED

WEIGHTED AVERAGE HEDGE PRICE

AMEX: SCU | TSX: SME

Year End 2007 Reserves

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Powder River Basin Well Economics

AMEX: SCU | TSX: SME

Fayetteville Shale Well Economics

AMEX: SCU | TSX: SME

Elk Valley Well Economics