On May 9, 2008, Storm Cat Energy Corporation ("Storm Cat") announced its financial results for the quarter ended March 31, 2008. A copy of the earnings release is furnished to the United States Securities and Exchange Commission (the "Commission") with this current report on Form 8-K as Exhibit 99.1. The earnings release contains certain non-GAAP financial measures for the periods set forth therein, including adjusted EBITDA and operating cash flow. Adjusted EBITDA is earnings before interest, taxes, depreciation and amortization expense and share-based compensation expense. The most directly comparable GAAP financial measure to this non-GAAP financial measure is net loss, which is set forth in the earnings release and below for the relevant periods set forth in the earnings release. Operating cash flow is natural gas revenues less lease operating expenses, gathering and transportation expenses and production taxes. The most directly comparable GAAP financial measure to this non-GAAP financial measure is operating loss, which is set forth in the earnings release and below for the relevant periods set forth in the earnings release.

For the Three Months Ended In U.S. Dollars and in thousands March 31, 2008 2007 Net loss $ (3,602 ) $ (1,350 )

For the Three Months Ended March 31, 2008 2007 Operating loss $ (1,067 ) $ (1,848 )

Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the earnings release.

Item 9.01.           Financial Statements and Exhibits.

(d)      Exhibits.

Exhibit No.   Description

  99.1      P News Release, dated May 9, 2008.