Swift Energy Company 1994 Annual Report: Consolidated Statements of Stockholders' Equity

	Common Stock (1)	Additional Paid-in Capital	Retained Earnings	Total
	--------------	--------------	--------------	--------------
Balance, December 31, 1991	$ 49,551	$ 10,701,532	$ 27,909,273	$ 38,660,356
Stock issued for benefit plans (23,445 shares)	235	138,059	-	138,294
Stock issued in institutional placement (990,000 shares)	9,900	6,387,976	--	6,397,876
Net Income	--	--	4,084,760	4,084,760
	--------------	--------------	--------------	--------------
Balance, December 31, 1992	$ 59,686	$ 17,227,567	$ 31,994,033	$ 49,281,286
Stock issued for benefit plans (19,096 shares)	191	170,059	--	170,250
Stock options exercised (13,400 shares)	134	117,791	--	117,925
Net Income	--	--	4,896,253	4,896,253
	--------------	--------------	--------------	--------------
Balance, December 31, 1993	$ 60,011	$ 17,515,417	$ 36,890,286	$ 54,465,714
Stock issued for benefit plans (26,488 shares)	265	271,176	--	271,441
Stock options exercised (21,472 shares)	214	176,808	--	177,022
Employee stock purchase plan (29,840 shares)	298	259,683	--	259,981
10% stock dividend (606,262 shares)	6,063	6,662,819	(6,668,882)	--
Net Loss	--	--	(13,047,027)	(13,047,027)
	--------------	--------------	--------------	--------------
Balance, December 31, 1994	$ 66,851	$ 24,885,903	$ 17,174,377	$ 42,127,131
	==========	==========	==========	==========