HOUSTON, April 14, 2004 – Swift Energy Company (NYSE: SFY) announced today that its Board of Directors has adopted a policy authorizing establishment of stock trading plans that comply with Rule 10b5-1 under the Securities Exchange Act of 1934. The policy permits participating Company executives and Board members to enter into pre-arranged stock trading plans for future purchases or sales of pre-determined amounts of Company stock over time according to pre-determined pricing criteria. The SEC adopted Rule 10b5-1 in late 2000.

Insiders adopting Rule 10b5-1 plans can provide for the exercise of their options and/or sale of their shares, as well as the purchase of the company’s stock, on a pre-determined basis according to pricing criteria contained in the plan and specified when the plan is adopted. Brokers executing the plan for insiders can then exercise options and sell shares, or purchase shares in the open market, and insiders will still comply with the law, even if the insiders possess subsequent material nonpublic information at the time the trades are actually executed, provided other conditions of the rule are met.

Swift Energy expects that its executives or directors may use the new policy to establish trading plans in accordance with the rule. In such event, Swift intends to provide and update information on the establishment of any such plans by insiders on at least a quarterly basis in its Forms 10-Q and Form 10-K, or in its other periodic reports.

Celebrating its 25th Anniversary this year, Swift Energy Company was founded in 1979 with its headquarters in Houston, Texas. Swift Energy engages in developing, exploring, acquiring and operating oil and gas properties, with a focus on onshore and inland waters oil and natural gas reserves in Texas and Louisiana and onshore oil and natural gas reserves in New Zealand. The Company has consistently shown long-term growth in 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.