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COMSTOCK RESOURCES, INC. ANNOUNCES 1993 THIRD QUARTER FINANCIAL RESULTS

 DALLAS, Nov. 15 /PRNewswire/ -- Comstock Resources, Inc. (NASDAQ-NMS: CMRE) today announced financial results for the quarter ended Sept. 30, 1993. Comstock reported $2,329,000 in revenues for the third quarter of 1993 as compared to $1,779,000 in the third quarter of 1992. Comstock also reported net income of $290,000 before dividends of $43,000 to holders of the company's preferred stock for the three months ended Sept. 30, 1993, compared to net income of $44,000 before dividends of $12,000 for the same period in 1992. Net income attributable to common stock for the third quarter of 1993 was 3 cents per share as compared to a net income attributable to common stock of less than 1 cent per share in 1992 on weighted average shares outstanding of 8,731,000 and 7,530,000 for 1993 and 1992, respectively.
 For the nine months ended Sept. 30, 1993, the company reported revenues of $6,515,000 as compared to revenues of $4,533,000 for the first nine months of 1992. The net income for the first nine months of 1993 was $662,000 before dividends to holders of the company's preferred stock of $129,000, as compared to a net loss of $852,000, before dividends of $12,000 to the preferred stockholders, for the first nine months of 1992. Net income attributable to common stock was 6 cents per share on weighted average shares outstanding of 8,565,000 as compared to net loss attributable to common stock of 12 cents per share on weighted average shares outstanding of 7,369,000 for the first nine months of 1992.
 The increase in total revenues for the nine months ended Sept. 30, 1993 of 44 percent is primarily attributable to oil and gas production from oil and gas properties acquired in September 1992 and during the first nine months of 1993. The company's oil production was 106,000 barrels for the first nine months of 1993 as compared to 97,000 barrels for the first nine months of 1992. Gas production increased from 1,525,000 thousand cubic feet ("Mcf") in 1992's first nine months to 2,257,000 Mcf in 1993's first nine months.
 "The third quarter financial results represent the fifth consecutive quarter that the company has reported a profit. The increase in revenues and the related net income are a direct result of the company's oil and gas property acquisition program. Comstock's acquisition of Stanford Offshore Energy, Inc., which is expected to close this week, will have a further significant impact on Comstock's revenues, earnings and cash flow," stated M. Jay Allison, president and chief executive officer.
 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.
 COMSTOCK RESOURCES, INC. AND SUBSIDIARIES
 Operating Results
 (Unaudited)
 Period ended Three Months Nine Months
 Sept. 30, 1993 1992 1993 1992
 Revenues:
 Oil and gas sales $1,965,883 $1,658,806 $5,897,127 $4,219,593
 Pipeline income 31,684 54,319 107,321 159,870
 Other income 331,384 66,367 510,316 153,153
 Total revenues 2,328,951 1,779,492 6,514,764 4,532,616
 Expenses:
 Oil and gas operg. 796,271 632,310 2,267,546 1,811,316
 Pipeline operating 27,971 34,305 90,541 120,552
 Depreciation, depletion,
 and amortization 807,236 589,575 2,140,685 1,716,276
 General and
 administrative 257,588 297,680 873,520 1,218,385
 Interest 149,762 181,273 480,482 518,317
 Total expenses 2,038,828 1,735,143 5,852,774 5,384,846
 Income (loss) before
 income taxes 290,123 44,349 661,990 (852,230)
 Provision for inc. taxes --- --- --- ---
 Net income (loss) 290,123 44,349 661,990 (852,230)
 Preferred stock
 dividend (43,480) (12,288) (129,021) (12,288)
 Net income (loss)
 attributable
 to common stock $ 246,643 $ 32,061 $ 532,969 $ (864,518)
 Net income (loss)
 attributable
 to common stock
 per share $ 0.03 $ -- $ 0.06 $ (0.12)
 Weighted average shares
 outstanding 8,730,575 7,530,108 8,564,846 7,368,812
 Oil production
 (barrels) 32,700 32,400 106,200 97,000
 Gas production (thousand
 cubic feet) 832,000 604,000 2,257,000 1,525,000
 Average oil price
 (per barrel) $ 18.97 $ 20.42 $ 17.49 $ 19.28
 Average gas price
 (per thousand
 cubic feet) $ 1.69 $ 1.52 $ 1.70 $ 1.45
 -0- 11/15/93
 /CONTACT: Roland O. Burns, chief financial officer of Comstock Resources, 214-701-2000/
 (CMRE)


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

MP -- NY088 -- 4485 11/15/93 13:39 EST
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Date:Nov 15, 1993
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