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SWIFT ENERGY COMPANY NEWSSWIFT ENERGY BOARD ELECTS TERRY E. SWIFT CHIEF EXECUTIVE OFFICERHOUSTON, May 8, 2001 - Swift Energy Company announced that at today’s annual directors meeting Terry E. Swift, President of the Company since 1997, was re-elected as President and additionally elected to the position of Chief Executive Officer of the Company. His succession of the Company founder, A. Earl Swift, as President and Chief Executive Officer is consistent with the board’s succession plan. Earl Swift will continue to serve as Chairman of the Board. Terry Swift, 45, joined Swift Energy in 1981, two years after the Company was founded and in the same year it became a public entity. He received a bachelor’s degree in chemical engineering from the University of Houston in 1979 and a master’s degree in business administration under the President/Key Executive Program of Pepperdine University in 1991. Terry represents the fourth generation of the Swift family in the oil and gas industry. Pointing out that Terry has been helping shape the future of the Company for many years now, Earl Swift commented, "Terry has shown his leadership abilities in maintaining Swift’s financial strength through recent industry cycles and in positioning the Company for continued domestic and international growth.” Mr. Bob Evans, Chairman of the Nominating Committee of Swift’s Board, stated, “The members of the Board are well aware of the fact that Terry has been key in expanding the Company’s domestic operations from the AWP/Two Rivers area to Toledo Bend and now to Lake Washington, developing these acquisitions into core areas for the Company. Terry also assembled and led our skilled exploration and development team, which, in addition to its work on our domestic projects, is overseeing the development of the Company’s Rimu discovery and the exploration of its world-class Kauri prospect in New Zealand. “All of the members of the Board are very excited about Terry Swift, as Chief Executive Officer, continuing to implement the corporate strategy that has made the Company such a success.” Swift Energy Company is an independent oil and gas company engaged in the exploration, development, acquisition and operation of oil and gas properties, with a focus on U.S. onshore natural gas reserves as well as onshore oil and natural gas reserves in New Zealand. Founded in 1979 with headquarters in Houston, Texas, the Company has achieved outstanding growth rates in proved oil and gas reserves, production, and cash flow over the last five years through a disciplined program of acquisition and drilling, while maintaining a strong financial position. This material includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The opinions, forecasts, projections, or other statements other than statements of historical fact, are forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Certain risks and uncertainties inherent in the Company’s business are set forth in the filings of the Company with the Securities and Exchange Commission. 16825 Northchase Drive, Suite 400, Houston, Texas 77060
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This page was last updated on Monday, January 10, 2005, at 08:20:02 AM. Copyright © 1994-2008 by Swift Energy Company. |
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