SWIFT ENERGY COMPANY NEWS

SWIFT ENERGY COMMENTS ON STOCK PERFORMANCE - SEES NO REASON FOR STOCK WEAKNESS

HOUSTON, July 30, 1996 - Swift Energy Company (NYSE: SFY) today announced that it knows of no reason for the recent weakness in the price of its common shares. A. Earl Swift, President and Chairman of Swift, stated, "We continue to enjoy excellent drilling results in our two major south Texas operating areas, the AWP Olmos Field and the Giddings Field in the Austin Chalk. Over the last six (6) months, our inventory of acreage in each of these two areas has more than doubled, giving the Company growth opportunities for the foreseeable future. We have just completed another excellent quarter operationally and financially. We will release second quarter results on August 6, 1996, in line with expectations. The development drilling program currently being executed should provide continued sustained growth comparable to recent performance."

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