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TORCH ENERGY ADVISORS COMPLETES PUBLIC OFFERING OF $180,600,000 ROYALTY TRUST

 HOUSTON, Nov. 22 /PRNewswire/ -- Torch Energy Advisors Inc. (Torch) announced the public offering of the $180,600,000 Torch Royalty Trust (NYSE: TRU) on Nov. 17. The underwriters, Smith Barney Shearson Inc., Kidder, Peabody & Co. and PaineWebber Inc., priced the 8.6 million trust units at $21 per unit. Torch will manage the trust.
 The trust assets are primarily producing gas properties located in four geographic and geologic areas. These properties include the Cbalkley Field in Louisiana, the Robinson's Bend Field in the Black Warrior Basin in Alabama, fields that produce from the Cotton Valley formations in Texas and fields that produce from the Austin Chalk formation in Texas. The income generated from these fields is expected to be fully sheltered by Section 29 tax credits owned by the trust.
 The trust will make quarterly distributions of cash and tax benefits. Distributions should be free from federal income tax. The trust closed Friday at a price of 21-7/8.
 Torch, headquartered in Houston, is a subsidiary of Torchmark Corp. (NYSE: TMK), a Birmingham, Ala.-based insurance and financial services holding company. Torch, a registered investment advisor, provides management and advisory services for institutional investors and manages approximately $1.3 billion in assets.
 -0- 11/22/93
 /CONTACT: Molly C. Jones, communications director, 713-753-1343/
 (TRU TMK)


CO: Torch Energy Advisors Incorporated ST: Texas IN: OIL SU: OFR

GK -- NY010 -- 6661 11/22/93 08:03 EST
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Publication:PR Newswire
Date:Nov 22, 1993
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