PSEC – A Prospect Capital Fund

Prospect Energy Corporation Makes Senior Secured Debt Investment in Iron Horse Coiled Tubing Inc.

April 24, 2006

NEW YORK, NY – (MARKET WIRE) – 04/24/06 – Prospect Energy Corporation
(NASDAQ: PSEC) (“Prospect”) announced today that it has made a $9.25
million senior secured debt investment in Iron Horse Coiled Tubing
Inc. (“Iron Horse”), an …