Cap Rock Energy (AMEX:RKE)
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Cap Rock Energy Announces Extension of Bank Financing
MIDLAND, Texas, Sept. 30 /PRNewswire-FirstCall/ -- Cap Rock Energy Corporation
(AMEX:RKE) today announced that its transmission affiliate has entered into a
second amendment with Beal Bank, S.S.B. ("Beal Savings Bank") to extend the due
date of the initial advance of funds of $14,169,000, which was originally due
September 9, 2004. The parties previously extended that initial advance
through September 30, 2004. The second amendment extends the due date of the
initial advance to October 29, 2004. The Company currently believes that it
will be able to obtain additional extensions if needed.
Cap Rock Energy provides electric distribution services to over 35,000 meters
in 28 counties in Texas. Its corporate office is located in Midland, Texas,
with service divisions in Stanton, Colorado City, Brady and Celeste, Texas.
The Company also provides management services to the Farmersville Municipal
Electric System. The Company's predecessor, Cap Rock Electric Cooperative,
Inc., was incorporated as an electric cooperative in the State of Texas in
1939.
All statements, other than statements of historical fact included in this news
release are forward looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Any such forward looking statements
involve risks and uncertainties and actual results, performance or achievements
of Cap Rock Energy may be different from those expressed or implied in the
forward looking statements.
DATASOURCE: Cap Rock Energy Corporation
CONTACT: Valerie Newsom of Cap Rock Energy Corporation, +1-432-684-0301,
or