RESERVES GROWTH WITH  A REGIONAL FOCUS
	1994 ANNUAL REPORT
Notes to Consolidated Financial Statements Swift Energy Company and Subsidiaries

9. Investment in Pet-Tech Tools, Inc.

 

The Company, together with another 50% co-venturer, owned Pet-Tech Tools, Inc. ("Pet-Tech"), a company formed in 1982 to manufacture and lease a drilling safety tool. In the fourth quarter of 1992, as a result of the continuing depressed state of the domestic oil and gas drilling services industry, the Company decided to impair its entire 50% investment in Pet-Tech. The $627,835 effect of that impairment has been reflected in the statements of income for 1992 included herein. The Company's investment in Pet-Tech consisted primarily of advances and Debentures.

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