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COMSTOCK RESOURCES, INC. ENTERS INTO NEW CREDIT FACILITY

 DALLAS, Nov. 18 /PRNewswire/ -- Comstock Resources, Inc. (NASDAQ-NMS: CMRE) today announced that on Nov. 15, 1993, Comstock closed a $10 million revolving credit facility with NBD Bank and Bank One, Texas under which it refinanced $6 million outstanding under a term loan with Chemical Bank.
 Amounts outstanding under the new credit facility bear interest at NBD's Bank's prime rate plus 1-1/2 percent and cannot exceed a borrowing base which was initially set at $6 million. As a result of the early retirement of the term loan with Chemical Bank, Comstock will write off approximately $400,000 of unamortized debt issuance costs associated with the term loan in the fourth quarter of 1993. The write off will represent a noncash, extraordinary charge to earnings.
 Comstock Resources, Inc. is a rapidly growing independent energy company engaged in oil and gas property acquisitions and oil and gas exploration, development, and production in the United States.
 -0- 11/18/93
 /CONTACT: Roland O. Burns, chief financial officer of Comstock Resources, 214-701-2000/
 (CMRE)


CO: Comstock Resources, Inc. ST: Texas IN: OIL SU:

SH -- NY026 -- 5943 11/18/93 10:33 EST
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Publication:PR Newswire
Date:Nov 18, 1993
Words:187
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