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SWIFT ENERGY COMPANY NEWSSWIFT ENERGY PREPARES FOR HURRICANE LILIHOUSTON, October 3, 2002 - Swift Energy Company (NYSE, PCX: SFY) announced today that it has evacuated personnel from its Lake Washington Field in Louisiana due to worsening weather conditions from approaching Hurricane Lili. The drilling rig, that has been active in the field since April, has been moved to safe harbor and production had been shut in as of Tuesday, October 1. Swift was in the process of re-starting the field operations following the previous shut down due to the effects of Tropical Storm Isidore last week, but based on the current threat of Hurricane Lili, the decision was made to again shut down operations in consideration of the safety of personnel and equipment in the field. Production from the Lake Washington Field will be restarted as soon as the storm has passed and crews can safely return to the area. Terry Swift, President and CEO said, “We did encounter a minor amount of wind damage from last week’s storm, and although we are anxious to get back to work in Lake Washington, the safety of our personnel and assets is clearly our first and foremost concern.” 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. 16825 Northchase Drive, Suite 400, Houston, Texas 77060
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This page was last updated on Monday, January 10, 2005, at 08:23:46 AM. Copyright © 1994-2008 by Swift Energy Company. |
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