The field will be shut-in until personnel can safely return to the Lake Washington field and begin to restart production, most likely early next week. Swift had one drilling rig and one completion rig operating in the field. Net production of approximately 3,000 barrels per day will be shut in during the period. This amounts to approximately 14 percent of Swift’s current daily production. The ultimate impact on the quarter’s production will depend upon how long it is necessary to shut in the wells and how quickly a return to former levels can be achieved. Terry Swift, President and CEO noted, “Our ultimate concern is for the safety of our people and assets. Lake Washington Field will be back in operation as soon as possible.”

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 consistently grown its proved oil and gas reserves, production, and cash flow 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.