Comstock Resources Inc.


Obtained commitments from a syndicate of thirteen banks for a new five year reserve-based revolving credit facility with an initial borrowing base of $700 million. The new credit facility was arranged by BMO Capital Markets and has an initial borrowing base of $700 million, which will be re-determined on a semi-annual basis. Borrowings under the new credit facility will bear interest at the company's option, at either LIBOR plus 2% to 3% or a base rate plus 1% to 2%, in each case depending on the utilization of the borrowing base. Comstock will pay a commitment fee of 0.375% to 0.5% on the unused borrowing base.

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