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TORCH ENERGY AND BRIGHTSTAR JOIN FORCES

 HOUSTON, Nov. 19 ~PRNewswire~ -- Torch Energy Advisors Incorporated announced today it has teamed up with BrightStar Group Ltd., a private developer of alternative energy projects, to pursue cogeneration and independent power projects and other downstream natural gas based projects.
 "Our objective is to capture more of the value created by our natural gas production," said J.P. Bryan, chairman of Torch. "With BrightStar, we will be developing high-value, long-term markets for our own gas."
 In June, Torch announced that it had acquired, from Transco Exploration Partners Ltd., approximately 100 Bcf of gas in the Chalkley Field in Louisiana. Then, in September, Torch entered into an agreement to acquire Transco's interests in the Black Warrior Basin in Alabama, adding to Torch's already substantial position there. Torch now owns or controls the sale of over 250 million cubic feet per day.
 "We are excited to be working with such an aggressive and dynamic company," said Albert J. Smith III, chief executive of BrightStar.
 "Initially, we will focus our efforts on non-utility power projects that can leverage off Torch's existing Gulf Coast and Alabama reserves," Smith said. "But we are actively evaluating other downstream opportunities, such as methanol."
 Torch Energy is a subsidiary of United Investors Management Company (NYSE: UTD) which in turn is a subsidiary of Torchmark Corp. (NYSE: TMK), a Birmingham, Ala.-based insurance company.
 BrightStar is a private developer of non-utility power and other alternative energy projects. Its principals are Albert J. Smith III and Clifford E. Shedd, former executives with PSE Inc. and Destec Energy, Inc. (NYSE: ENG), and Albert J. Smith Jr., the founder and former chairman of PSE Inc.
 -0- 11~19~92
 ~CONTACT: Albert J. Smith III, CEO of BrightStar Group Ltd., 713-439-1150~
 (UTD TMK ENG)


CO: Torch Energy Advisors Incorporated; BrightStar Group Ltd. ST: Texas IN: OIL SU:

BR-EA -- AT003 -- 2823 11~19~92 11:13 EST
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Publication:PR Newswire
Date:Nov 19, 1992
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