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SWIFT ENERGY COMPANY NEWSSWIFT ENERGY CLOSES SALE OF 1,725,000 SHARES OF COMMON STOCKHOUSTON, April 12, 2002 - Swift Energy Company (NYSE, PCX: SFY) announced that today it closed the public sale of 1,725,000 shares of its common stock. The number of shares sold includes a 15% over-allotment option exercised by Credit Suisse First Boston, the sole underwriter of this offering. The Company’s net proceeds from the sale of stock are approximately $30.5 million. The proceeds of the offering will be used to pay down outstanding indebtedness on Swift’s credit facility. Swift Energy Company engages in developing, exploring, acquiring, and operating oil and gas properties, with a focus on onshore oil and natural gas reserves in Texas and Louisiana and onshore oil and natural gas reserves in New Zealand. Founded in 1979 with headquarters in Houston, Texas, the Company has grown its proved oil and gas reserves, production, and cash flow over the last five years through a disciplined program of acquisitions 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 08:22:30 AM. Copyright © 1994-2008 by Swift Energy Company. |
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