Exhibit 99.1

Tortoise Capital Resources Releases Fiscal 2007 Third Quarter
Financial Results


FOR IMMEDIATE RELEASE

OVERLAND PARK, Kan.– Oct. 12, 2007 – Tortoise Capital Resources Corp. (NYSE: TTO) today announced that it has filed its Form 10-Q for the third quarter ended Aug. 31, 2007.

Highlights for the Quarter

·  
Third quarter dividend of $0.18 per share paid Sept. 04, 2007, representing partial investment of initial proceeds
·  
Completed full investment of IPO proceeds
·  
$12.5 million of credit facility remained available to fund investments
·  
Completed five investments totaling $49.6 million
·  
Net unrealized depreciation of $705,341 (year-to-date net unrealized appreciation of approximately $5.3 million)
·  
Net assets of $121.8 million or $13.77 per share

“We have achieved our goal of investing our initial public offering proceeds within a nine month timeframe,” said Ed Russell, Tortoise Capital Resources’ President. “We are now investing proceeds from our $40 million credit facility, and currently have approximately $13.0 million available to support private and micro-cap public energy infrastructure capital expenditure projects.”

Dividends

On Sept. 04, 2007, the company paid a quarterly dividend to our stockholders of record as of Aug. 23, 2007, of $0.18 per common share for a total of $1.6 million.  Of this total, the dividend reinvestment amounted to approximately $73,000.

The company’s dividend is based on the distributions, dividends and interest from its investments, (including those expected from investments made during the quarter) less expenses. Dividends paid to stockholders prior to full investment may exceed distributable cash flow for the period.

As such, the company’s third quarter dividend was largely derived from total equity and debt investments at the beginning of the quarter on May 31, 2007 of $102.8 million and short-term investments of $27.8 million.  The company anticipates its next quarterly dividend will be paid on or about Nov. 30, 2007.

Portfolio and Investment Activity

As of Aug. 31, 2007, the value of the company’s investment portfolio (excluding short-term investments) totaled $153.6 million, including equity investments of $142.8 million and debt investments of $10.8 million.  The portfolio represents a strategic mix of 66 percent midstream investments, 14 percent upstream investments, 14 percent in aggregates and coal and six percent downstream investments.

As previously announced, the company’s third quarter investments included $7.5 million in a direct placement in EV Energy Partners, L.P. (Nasdaq: EVEP) common units; $10.0 million in common units of International Resource Partners, L.P.; a $10.0 million follow-on investment in High Sierra Energy, L.P. common units; and a $2.0 million follow-on investment in subordinated debt of Mowood, LLC.

In addition, Tortoise Capital Resources invested $19.6 million in common units of Lonestar Midstream Partners, LP. (Lonestar) and $0.5 million in GP LP units of Lonestar’s general partner. LSMP GP LP (LSMP).  Lonestar indicated it plans to use the proceeds to support various expansion projects. Lonestar is an independent midstream natural gas services provider of gathering, dehydration, compression and processing services to natural gas producers targeting the

      
        
      
      
                                           
    

Barnett Shale in the Fort Worth Basin.  Tortoise Capital Resources also agreed to purchase, subject to the satisfaction of certain conditions, $2.6 million of additional common units of Lonestar and $0.04 million GP LP units of LSMP in September 2007 and $1.2 million of additional common units of Lonestar and $0.02 million GP LP units of LSMP in December 2007.

Recent Developments

In September 2007, the company completed a portion of its future purchase commitment described above, investing an additional $2.6 million in common units of Lonestar and $0.04 million in additional GP LP units of LSMP.

Also in September, the company increased the maximum principal amount of its revolving credit facility from $35 million to $40 million.

Earnings Call

The company will host a conference call at 10:30 a.m. CT on Monday, Oct. 15, 2007 to discuss its financial results. Please dial-in approximately five to 10 minutes prior to the scheduled start time.

U.S./Canada: (800) 218-4007

International:  (303) 262-2139

The call will also be webcast in a listen-only format. The link to the webcast will be accessible at www.tortoiseadvisors.com.

A replay of the call will be available beginning at 12:30 p.m. CT on Oct. 15, 2007 and continuing until 12:30 p.m. CT Oct. 29, 2007, by dialing (800) 405-2236 (U.S./Canada).  The replay access code is 11099420#.  A replay of the webcast will also be available on the company's Web site at www.tortoiseadvisors.com through Oct. 15, 2008.

About Tortoise Capital Resources Corp.
Tortoise Capital Resources 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 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 MLPs in the energy infrastructure sector. As of Sept. 30, 2007, the adviser had approximately $2.8 billion of energy 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.



Tortoise Capital Resources Corporation
            
STATEMENTS OF ASSETS & LIABILITIES
            
             
             
   
August 31, 2007
    
November 30, 2006
  
   
(Unaudited)
        
Assets
            
Investments at value, non-affiliated (cost $33,145,714 and $21,867,831, respectively)
   $
39,179,233
     $
22,196,689
  
Investments at value, affiliated (cost $91,633,045 and $14,828,825, respectively)
    
93,648,840
      
14,828,825
  
Investments at value, control (cost $20,713,593 and $5,550,000, respectively)
    
21,503,255
      
5,550,000
  
Total investments (cost $145,492,352 and $42,246,656, respectively)
    
154,331,328
      
42,575,514
  
Distribution receivable from affiliated investment
    
66,667
      
-
  
Interest receivable from control investments
    
143,277
      
43,983
  
Other receivable from affiliate
    
-
      
44,487
  
Dividends receivable
    
1,849
      
24,262
  
Prepaid expenses and other assets
    
138,297
      
244,766
  
Total assets
    
154,681,418
      
42,933,012
  
                 
Liabilities
                
Management fees payable to Adviser
    
517,455
      
112,765
  
Accrued capital gain incentive fees payable to Adviser (Note 4)
    
1,325,846
      
-
  
Payable for investments purchased
    
3,836,237
      
-
  
Dividend payable on common shares
    
1,591,484
      
-
  
Short-term borrowings
    
22,500,000
      
-
  
Accrued expenses and other liabilities
    
378,947
      
155,303
  
Current tax liability
    
-
      
86,386
  
Deferred tax liability
    
2,747,064
      
250,156
  
Total liabilities
    
32,897,033
      
604,610
  
Net assets applicable to common stockholders
   $
121,784,385
     $
42,328,402
  
                 
Net Assets Applicable to Common Stockholders Consist of
          
  Warrants, no par value; 945,774 issued and outstanding
          
 at August 31, 2007 and 772,124 issued and outstanding at
          
November 30, 2006 (5,000,000 authorized)
   $
1,370,957
     $
1,104,137
  
  Capital stock, $0.001 par value; 8,842,330 shares issued and
          
 outstanding at August 31, 2007 and 3,088,596 issued and outstanding
  
at November 30, 2006 (100,000,000 shares authorized)
    
8,842
      
3,089
  
Additional paid-in capital
    
117,043,347
      
41,018,413
  
Accumulated net investment loss, net of deferred tax benefit
     (2,126,300 )    
-
  
Accumulated realized gain (loss), net of deferred tax expense
    
7,595
       (906 )
Net unrealized appreciation of investments, net of deferred tax expense
    
5,479,944
      
203,669
  
Net assets applicable to common stockholders
   $
121,784,385
     $
42,328,402
  
                 
  Net Asset Value per common share outstanding (net assets applicable
  
to common shares, divided by common shares outstanding)
   $
13.77
     $
13.70
  
Tortoise Capital Resources Corporation
                        
STATEMENTS OF OPERATIONS (Unaudited)
                        
                         
   
For the three months ended
    
For the three months ended
    
For the nine months ended
    
Period from December 8, 2005(1) through
  
   
August 31, 2007
    
August 31, 2006
    
August 31, 2007
    
August 31, 2006
  
Investment Income
                        
   Distributions received from investments
                        
Non-affiliated investments
   $
532,992
     $
350,993
     $
1,228,864
     $
350,993
  
Affiliated investments
    
1,328,533
      
-
      
2,661,815
      
-
  
Control investments
    
148,080
      
-
      
148,080
      
-
  
   Total distributions received from investments
    
2,009,605
      
350,993
      
4,038,759
      
350,993
  
   Less return of capital on distributions
                                
Non-affiliated investments
     (400,584 )     (297,054 )     (1,289,732 )     (297,054 )
Affiliated investments
     (1,065,404 )    
-
       (2,140,454 )    
-
  
Control investments
     (86,407 )    
-
       (86,407 )    
-
  
            Net distributions from investments
    
457,210
      
53,939
      
522,166
      
53,939
  
   Dividends from money market mutual funds
    
38,726
      
263,085
      
620,385
      
1,014,086
  
   Interest income from control investments
    
306,738
      
131,100
      
597,614
      
131,100
  
Total Investment Income
    
802,674
      
448,124
      
1,740,165
      
1,199,125
  
                                 
Expenses
                                
   Base management fees
    
512,894
      
163,364
      
1,360,973
      
469,527
  
   Capital gain incentive fees (Note 4)
     (170,648 )    
-
      
1,325,846
      
-
  
   Professional fees
    
187,014
      
61,701
      
401,862
      
145,298
  
   Directors' fees
    
25,205
      
12,929
      
73,578
      
56,672
  
   Administrator fees
    
24,193
      
-
      
54,929
      
-
  
   Reports to stockholders
    
10,083
      
-
      
26,388
      
15,810
  
   Fund accounting fees
    
9,294
      
6,599
      
23,571
      
19,008
  
   Stock transfer agent fees
    
3,180
      
3,680
      
10,460
      
13,689
  
   Custodian fees and expenses
    
3,044
      
1,615
      
8,189
      
5,053
  
   Registration fees
    
14,686
      
-
      
22,749
      
-
  
   Other expenses
    
16,944
      
486
      
34,936
      
11,335
  
Total Expenses before Interest Expense,
                                
Preferred Stock Dividends and Loss on Redemption of Preferred Stock
    
635,889
      
250,374
      
3,343,481
      
736,392
  
   Interest expense
    
229,692
      
-
      
347,402
      
-
  
   Preferred stock dividends
    
-
      
-
      
228,750
      
-
  
   Loss on redemption of preferred stock
    
-
      
-
      
731,713
      
-
  
Total Interest Expense, Preferred Stock Dividends
                                
and Loss on Redemption of Preferred Stock
    
229,692
      
-
      
1,307,865
      
-
  
Total Expenses
    
865,581
      
250,374
      
4,651,346
      
736,392
  
Net Investment Income (Loss), before Income Taxes
     (62,907 )    
197,750
       (2,911,181 )    
462,733
  
     Current tax benefit (expense)
    
42,732
       (59,732 )    
42,732
       (155,687 )
     Deferred tax benefit (expense)
     (5,109 )    
11,904
      
742,149
      
11,904
  
Total tax benefit (expense)
    
37,623
       (47,828 )    
784,881
       (143,783 )
Net Investment Income (Loss)
     (25,284 )    
149,922
       (2,126,300 )    
318,950
  
                                 
Realized and Unrealized Gain (Loss) on Investments
                                
   Net realized gain on investments, before deferred tax expense
    
-
      
-
      
13,712
      
-
  
Deferred tax expense
    
-
      
-
       (5,211 )    
-
  
  Net Realized Gain on Investments
    
-
      
-
      
8,501
      
-
  
   Net unrealized appreciation (depreciation) of non-affiliated investments
     (1,821,769 )    
297,054
      
5,686,094
      
297,054
  
   Net unrealized appreciation of affiliated investments
    
68,414
      
-
      
2,034,365
      
-
  
   Net unrealized appreciation of control investments
    
615,708
      
-
      
789,662
      
-
  
Net unrealized appreciation (depreciation), before deferred taxes
     (1,137,647 )    
297,054
      
8,510,121
      
297,054
  
Deferred tax benefit (expense)
    
432,306
       (115,851 )     (3,233,846 )     (115,851 )
Net unrealized appreciation (depreciation) of investments
     (705,341 )    
181,203
      
5,276,275
      
181,203
  
Net Realized and Unrealized Gain (Loss) on Investments
     (705,341 )    
181,203
      
5,284,776
      
181,203
  
                                 
Net Increase (Decrease) in Net Assets Applicable to Common Stockholders
                  
   Resulting from Operations
     (730,625 )   $
331,125
      
3,158,476
     $
500,153
  
                                 
Net Increase (Decrease) in Net Assets Applicable to Common Stockholders:
                  
   Resulting from Operations Per Common Share
                                
   Basic and diluted
   $ (0.08 )   $
0.11
     $
0.43
     $
0.16
  
                                 
Weighted Average Shares of Common Stock Outstanding:
                                
   Basic and diluted
    
8,840,487
      
3,088,596
      
7,387,780
      
3,088,596
  
                                 
                                 
(1) Commencement of Operations.