Exhibit 99.1
 Tortoise Capital Resources Corporation
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Tortoise Capital Resources Corp. Invests $10.0 Million in
High Sierra Energy, LP Common Units
FOR IMMEDIATE RELEASE
OVERLAND PARK, Kan. - June 15, 2007 - Tortoise Capital Resources Corp. (NYSE:
TTO) today announced that it has invested $10.0 million in High Sierra Energy,
LP. The investment represents the purchase of common units in the partnership.
Previously, Tortoise Capital Resources invested $14.8 million in High Sierra
Energy, LP units and $2.25 million in its general partner.
"We have been pleased with High Sierra Energy's performance since our original
investment, and are excited to make an additional investment to support the
company's expansion," said Tortoise Capital Resources' President, Ed Russell.
"We believe that the company's organic growth combined with selective
acquisitions will further enhance stockholder returns."
Founded in 2004, Denver-based High Sierra Energy, LP is a holding company with
diversified midstream energy assets focused on the processing, transportation
and marketing of hydrocarbons. High Sierra's purchased assets include a natural
gas liquids logistics and transportation business in Colorado, natural gas
gathering and processing operations in Louisiana, a natural gas storage facility
in Mississippi, an ethanol terminal in Nevada, crude and natural gas liquids
trucking businesses in Kansas and Colorado, a well water processing facility in
Wyoming and two asphalt processing, packaging and distribution terminals in
Florida.
Tortoise Capital Resources Corp. has invested (excluding short-term investments)
approximately $122.7 million, including equity investments in 12 portfolio
companies of approximately $113.9 million and debt investments in two portfolio
companies of approximately $8.8 million.
About Tortoise Capital Resources Corp.
Tortoise Capital Resources Corp. invests primarily in privately-held and
micro-cap public companies operating in the midstream and downstream segments,
and to a lesser extent the upstream segment of the U.S. energy infrastructure
sector. Tortoise Capital Resources Corp. seeks to provide stockholders a high
level of total return, with an emphasis on dividends and dividend growth.
About Tortoise Capital Advisors, LLC
Tortoise Capital Advisors, LLC, the adviser to Tortoise Capital Resources Corp.,
is a pioneer in the capital markets for master limited partnership (MLP)
investment companies and a leader in closed-end funds and separately managed
accounts focused on the energy sector. As of May 31, 2007, the adviser had
approximately $2.9 billion of energy infrastructure investment assets under
management.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to
buy, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer or solicitation or sale would be unlawful prior
to registration or qualification under the laws of such state or jurisdiction.
Contact information:
Tortoise Capital Advisors, LLC
Pam Kearney, Investor Relations, (866) 362-9331, pkearney@tortoiseadvisors.com
10801 Mastin Boulevard, Suite 222 | Overland Park, KS 66210 |
p: 913.981.1020 | f: 913.981.1021 | www.tortoiseadvisors.com