Figuring

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I just read the article by Banks and it is wonderfully written...but I still don't understand. If I was to eat my exercise calories I would be eating around 2800 to 3000 calories a day, could someone please explain in kindergarten language (hard to believe I have a master's degree, huh). I have been working out for 10 weeks, 2 hours a day with only low weight loss. I am 5"5", 46 yrs old and weigh 320 lbs. Total weight loss so far is 15 lbs, which I lost 8 the first week. I take thyroid medicine so that is controlled. I really appreciate any help or advice, very frustrated :o)