HOUSTON, September 19, 2005 – Swift Energy Company (NYSE: SFY) announced today that it has signed an agreement to purchase interests in South Bearhead Creek Field in Beauregard Parish, Louisiana with an effective date of August 1, 2005. This acquisition is expected to close within the next 45 days. The total purchase price of this acquisition is $24.5 million. The transaction is subject to typical closing conditions and post-closing adjustments.

Estimates prepared by Swift Energy project total proved reserves of the purchased properties to be approximately 3.6 million barrels of oil equivalent ("BOE"). Approximately 42% of the reserves are classified proved developed and future development costs are estimated to be $22.7 million for an all-in acquisition cost of $13.11 per BOE (or $2.19 per thousand cubic feet equivalent). Current production is approximately 90% crude oil and is less than 160 BOE per day net to the purchased working interests. The purchase price will be funded with current cash flow. Pursuant to the terms of the agreement, Swift Energy will acquire a 100% working interest in the seller’s operated wells in the field and a 25% working interest in certain non-operated wells.

South Bearhead Creek Field (“SBC”) is located in the Toledo Bend area approximately 50 miles south of Swift Energy’s Masters Creek Field and 30 miles north of Lake Charles, Louisiana. Oil and gas are produced in SBC predominantly from the upper and lower Wilcox sands, at depths ranging from approximately 10,600 to 13,700 feet. The field also has production in the Cockfield sands at approximately 8,000 to 8,500 feet. SBC was discovered in 1958 by a major oil company. It is a large east-west trending anticlinal closure and has had cumulative production of over 4 million BOE. The field consists of approximately 5,800 gross acres with an average net revenue interest of approximately 78%.

Swift Energy plans to initiate an exploitation program in the first-half of 2006 to drill proved undeveloped and probable locations, fracture stimulate several wells, enhance facilities and improve per unit operating costs. It is expected that Swift Energy’s 2006 budget will include $8 million to $12 million of capital expenditures in this field.

Terry Swift, Chief Executive Officer of Swift Energy Company, noted “This acquisition of interests in South Bearhead Creek Field provides Swift Energy with additional opportunities where we can use our experience and capital to enhance value. We believe that Swift Energy will be able to use its engineering and geologic experience to increase production and evaluate additional reserves potential. Over the next 12-18 months, our technical teams will exploit and further quantify the hydrocarbon potential of this area. We will also continue to look at additional niche acquisition opportunities with a focus on the Gulf Coast region.”

Swift Energy Company, founded in 1979 and headquartered in Houston, 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 Louisiana and Texas and oil and natural gas reserves in New Zealand. Over the Company’s 25-year history, Swift Energy 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.