Comstock Resources Inc.

Published : February 25th, 2015

Comstock Resources, Inc. Announces Senior Secured Notes Offering

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Comstock Resources, Inc. Announces Senior Secured Notes Offering

Comstock Resources, Inc. Announces Senior Secured Notes Offering

COMSTOCK RESOURCES, INC. ANNOUNCES
SENIOR SECURED NOTES OFFERING

FRISCO, TEXAS, February 25, 2015 - Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE: CRK) announced today that it intends to offer $700 million in aggregate principal amount of senior secured notes due 2020 in a private offering, subject to market and other conditions. The notes will be guaranteed by each of Comstock's subsidiaries. The notes and the guarantees will be secured by a first priority lien on substantially all of the Company's and its subsidiaries' assets, subject to payment priority in favor of the lenders under a new credit facility described below. Comstock intends to use the net proceeds of the proposed offering to retire its bank credit facility, with remaining proceeds for general corporate purposes. In connection with the offering, the Company intends to enter into a new $50 million bank revolving credit facility.

The notes will be offered in the United States only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The notes have not been registered under the Securities Act or the securities laws of any jurisdiction and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offers of the notes will be made only by means of a private offering memorandum.

This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995.  Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein.  Although the Company believes the expectations in such statements to be reasonable, there can be no assurance that such expectations will prove to be correct.

Comstock Resources, Inc. is a growing independent energy company based in Frisco, Texas and is engaged in oil and gas acquisitions, exploration and development primarily in Texas and Louisiana.  The Company's stock is traded on the New York Stock Exchange under the symbol CRK.


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Comstock Resources Inc.

EXPLORATION STAGE
CODE : CRK
ISIN : US2057682039
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Comstock Res. is a oil and natural gas development stage company based in United states of america.

Its main exploration property is CHAMIZAL in Mexico.

Comstock Res. is listed in Germany and in United States of America. Its market capitalisation is US$ 75.0 millions as of today (€ 66.4 millions).

Its stock quote reached its highest recent level on July 03, 2008 at US$ 90.61, and its lowest recent point on May 27, 2016 at US$ 0.55.

Comstock Res. has 16 166 564 shares outstanding.

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