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EDISTO RESOURCES CORPORATION ANNOUNCES ENGAGEMENT OF PETRIE PARKMAN & CO.

HOUSTON, March 8 /PRNewswire/ -- Edisto Resources Corporation (AMEX: EDT) today announced that it has engaged the investment banking firm of Petrie Parkman & Co., Inc. Petrie Parkman's duties will be to identify and evaluate strategic partners for Edisto's natural gas and electric power marketing operations which are conducted by Energy Source, Inc. and its subsidiaries, Energy Source Canada, Ltd. and Energy Source Power. The combined operations of Energy Source, Inc. and Energy Source Canada, Ltd. have average gas sales volumes of 1 Bcf/day.

Edisto Resources Corporation's consolidated activities include (i) natural gas marketing which is conducted through its subsidiary, Energy Source, Inc., and (ii) oil and gas exploration and production, which is conducted through its 72 percent interest in Convest Energy Corporation, an independent company listed on the American Stock Exchange.
 -0- 3/8/96


/CONTACT: Jerry L. McNeill, vice president of Edisto Resources Corporation, 713-782-0095.

(EDT)

CO: Edisto Resources Corporation; Petrie Parkman & Co., Inc.; Energy

Source Inc. ST: Texas IN: OIL FIN SU:

SH -- NYF050 -- 1691 03/08/96 16:00 EST
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Publication:PR Newswire
Date:Mar 8, 1996
Words:173
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