NGP Capital Resources Company Announces
3rd Quarter 2005 Financial Results

Houston (BusinessWire) - November 3, 2005 – NGP Capital Resources Company (NASDAQ: NGPC) today announced financial results for the third quarter ending September 30, 2005.

Highlights for the quarter ending September 30, 2005:

Stockholders' Equity: $244 million
Net Asset Value per share: $14.02

Operating Results (in thousands):
Net increase in stockholders' equity (net assets) from operations: $3,393
Net investment income: $2,817
Net realized capital gain on portfolio securities: $173
Net unrealized appreciation on portfolio securities: $403

Portfolio Investment Activity:
Portfolio investments added: 2
Investments during the quarter: $39.3 million
Number of portfolio companies at September 30, 2005: 7

Portfolio and Investment Activity

During the three months ended September 30, 2005, we added two investments to our portfolio. In August, we extended a $25 million Senior Secured Bridge Loan to Millennium Offshore Group, Inc. on which we had advanced $22.5 million as of the end of the quarter. In September, we acted as agent on a multi-layered investment in Chroma Exploration & Production, Inc., creating a $50 million Senior Secured Multiple Advance Term Loan Facility, with currently committed and available amounts totaling $19.5 million. We have committed to fund 50% of the facility, and as of the end of the quarter we had advanced $9.75 million. In addition to the loan facility, we purchased $2 million of Chroma Series A Participating Convertible Preferred Stock.

Three of our existing portfolio companies drew additional funds on their facilities during the quarter as follows: TierraMar Energy, LLC borrowed $1.6 million; C-Gas, LLC borrowed $3.3 million; and Atchee CBM, LLC borrowed $145 thousand.

As of September 30, 2005, we had commitments to or investments in 7 portfolio companies totaling $122 million, of which $106 million was outstanding. During the third quarter, we sold $15 million of our investments in investment grade senior notes issued by independent exploration and production companies, realizing capital gains of $173 thousand.

As of September 30, 2005 our portfolio was invested as follows: 19.3% in senior subordinated secured notes, 17.5% in senior secured bridge and multiple-advance term loans, 5.1% in corporate senior notes, 0.8% in preferred stock, 8.3% in investment grade senior notes, 42.3% in U.S. Treasury Bills, and 6.7% in cash and cash equivalents. At September 30, 2005, the annualized weighted average yield (exclusive of capital gains and royalty income) of our targeted investments was 12.8%. The annualized weighted average yield of our investment grade senior notes was 5.4%. The annualized weighted average yield of our U.S. Treasury Bills and cash equivalents was 2.7%. Computed yields use interest rates as of the balance sheet date and include amortization of loan origination fees, original issue discount and market premium or discount, weighted by their respective costs when averaged.

Operating Results – Quarter ended September 30, 2005

Investment income totaled $4.4 million for the quarter ended September 30, 2005, with $2.9 million attributable to our targeted investments and $1.5 million attributable to investments in cash equivalents and investment grade senior notes. Operating expenses for the quarter were $1.5 million and included $0.9 million of management fees and $0.6 million of general and administrative expenses. The resulting net investment income was $2.8 million. For the quarter ending September 30, 2005, our portfolio experienced net unrealized appreciation of $0.4 million attributable to changes in market prices of the investment grade and corporate senior notes. We also realized a capital gain of $0.2 million on the sale of $15 million in investment grade senior notes. Overall, we had a net increase in stockholders' equity (net assets) resulting from operations of $3.4 million, or $0.20 per share. After giving effect to the $0.14 per common share dividend declared during the quarter, stockholders’ equity (net assets) per share as of September 30, 2005 was $14.02.

Operating Results – Nine months ended September 30, 2005

Investment income totaled $12.3 million for the nine months ended September 30, 2005, with $7.7 million attributable to our targeted investments and $4.6 million attributable to investments in cash equivalents, auction rate securities and investment grade senior notes. Operating expenses for the period were $4.9 million and included $2.7 million of management fees and $2.2 million of general and administrative expenses. The resulting net investment income was $7.3 million. For the nine months ending September 30, 2005, our portfolio experienced net unrealized depreciation of ($1.0) million attributable to changes in market prices of the investment grade and corporate senior notes. We also realized capital gains of $0.3 million on the sale of $25 million in investment grade senior notes. Overall, we had a net increase in stockholders' equity (net assets) resulting from operations of $6.6 million, or $0.38 per share for the nine months ended September 30, 2005 and declared dividends during such period totaling $0.39 per share, resulting in stockholders’ equity (net assets) per share of $14.02 as of September 30, 2005.

Subsequent Events

On October 31, 2005 Millennium Offshore Group, Inc. repaid in full the $22.5 million balance outstanding on its $25 million Senior Secured Bridge Loan, which represented approximately 9% of our total investments as of September 30, 2005. In addition, Millennium repurchased our overriding royalty interest in its properties resulting in a capital gain of approximately $1 million, which will be recognized in the fourth quarter of 2005.

Conference Call at 11:00 a.m. Eastern Time on November 3, 2005
NGPC invites all interested persons to participate in its conference call on Thursday, November 3, 2005 at 11:00 am Eastern Time. The dial-in number for the call is (800) 289-0572. International callers should dial (913) 981-5543. The Company will maintain an audio replay of the call from 2:00 pm Eastern Time on November 3, 2005 through 11:59 pm Eastern Time on November 9, 2005. The replay dial-in number is (888) 203-1112. International callers should dial (719) 457-0820. The replay pass code is 9790604.

About NGP Capital Resources Company

NGP Capital Resources Company is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company's investment portfolio will be principally in energy related private companies. From time to time, the Company may also invest in public companies that are not thinly traded. The Company expects to invest primarily in senior secured and mezzanine loans in furtherance of its business plan and may receive equity investments in portfolio companies in connection with such investments. NGP Capital Resources Company is managed by NGP Investment Advisor, LP, an affiliate of NGP Energy Capital Management. NGP Energy Capital Management, based in Irving, Texas, is a leading investment firm with over $2 billion of cumulative capital under management serving all sectors of the energy industry.

This press release contains forward-looking statements. These forward-looking statements are subject to various risks and uncertainties, which could cause actual results and conditions to differ materially from those projected, including the uncertainties associated with the timing of transaction closings, changes in interest rates, availability of transactions, the future operating results of our portfolio companies, changes in regional, national, or international economic conditions and their impact on the industries in which we invest, or changes in the conditions of the industries in which we invest, and other factors enumerated in our filings with the Securities and Exchange Commission.

We may use words such as "anticipates," "believes," "expects," "intends," "will," "should," "may" and similar expressions to identify forward-looking statements. Undue reliance should not be placed on such forward-looking statements as such statements speak only as of the date on which they are made. We do not undertake to update our forward-looking statements unless required by law.

Persons considering an investment in NGP Capital Resources Company should consider the investment objectives, risks, and charges and expenses of the company carefully before investing. Such information and other information about the company will be available in our annual report on Form 10-K, in our quarterly reports on Form 10-Q and in prospectuses we issue from time to time in connection with our offering of securities. Such materials are filed with the SEC and copies are available on the SEC’s website, www.sec.gov. Prospective investors should read such materials carefully before investing.

INVESTMENT CONTACT: Please send investment proposals to: NGP Capital Resources Company, Rich Bernardy (rbernardy@ngpcrc.com) or Kelly Plato (kplato@ngpcrc.com), 713-752-0062.

INVESTOR RELATIONS CONTACT: Steve Gardner (investor_relations@ngpcrc.com), 713-752-0062

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