FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 1999

Item 6. Selected Financial Data
1999 1998 1997 1996 1995 1994 (1) 1993 1992 1991 1990 1989
Revenues
   Oil and Gas Sales $108,898,696 $80,067,837 $69,015,189 $52,770,672 $22,527,892 $19,802,188 $15,535,671 $12,420,222 $8,361,771 $7,328,190 $3,984,835
   Fees and Earned Interests (2) $229,749 $333,940 $745,856 $937,238 $590,441 $701,528 $4,071,970 $2,716,277 $2,231,729 $9,882,953 $8,802,816
   Interest Income $833,204 $107,374 $2,395,406 $433,352 $212,329 $47,980 $201,584 $113,387 $192,694 $705,786 $260,286
   Other, Net $709,358 $1,960,070 $2,555,729 $2,156,764 $1,761,568 $1,072,535 $604,599 $515,931 $541,502 $323,981 $232,261
Total Revenues $110,671,007 $82,469,221 $74,712,180 $56,298,026 $25,092,230 $21,624,231 $20,413,824 $15,765,817 $11,327,696 $18,240,910 $13,280,198
Operating Income (Loss) $29,736,151 $(73,391,581) $33,129,606 $28,785,783 $6,894,537 $4,837,829 $6,628,608 $4,687,519 $3,748,741 $10,811,044 $8,716,673
Net Income (Loss) $19,286,574 $(48,225,204) $22,310,189 $19,025,450 $4,912,512 ($13,047,027) $4,896,253 $4,084,760 $2,512,815 $7,170,642 $5,709,098
Net Cash Provided by Operating Activities $73,603,426 $54,249,017 $55,255,965 $37,102,578 $14,376,463 $10,394,514 $7,238,340 $6,349,080 $5,911,588 $4,813,435 $2,751,381
Per Share Data
   Weighted Average Shares Outstanding (3) 18,050,106 16,436,972 16,492,856 15,000,901 10,035,143 7,308,673 7,246,884 6,748,548 5,899,629 5,806,436 5,129,654
   Earnings (Loss) per Share--Basic (3) $1.07 $(2.93) $1.35 $1.27 $0.49 ($1.79) $0.68 $0.61 $0.43 $1.23 $1.11
   Earnings (Loss) per Share--Diluted (3) $1.07 $(2.93) $1.26 $1.25 $0.49 ($1.79) $0.64 $0.61 $0.43 $1.23 $1.11
   Shares Outstanding at Year-End 20,823,729 16,291,242 16,459,156 15,176,417 12,509,700 6,685,137 6,001,075 5,968,579 4,955,134 4,848,315 4,764,862
   Book Value per Share $8.18 $6.71 $9.69 $9.41 $7.46 $6.30 $9.08 $8.26 $7.80 $7.36 $5.84
   Market Price (3)
      High $13.31 $21.00 $34.20 $28.86 $11.48 $10.35 $11.57 $7.85 $9.09 $10.65 $11.15
      Low $5.69 $6.94 $16.93 $9.89 $7.05 $7.75 $7.14 $4.65 $4.34 $6.93 $5.78
      Year-End Close $11.50 $7.38 $21.06 $27.16 $10.91 $8.86 $7.85 $7.55 $4.95 $8.57 $9.50
Pro forma amounts assuming 1994 change in
accounting principle is applied retroactively(2)
   Net Income (Loss) $19,286,574 $(48,225,204) $22,310,189 $19,025,450 $4,912,512 $3,725,671 $4,322,478 $3,729,851 $2,950,245 $3,107,451 $2,185,276
   Earnings (Loss) per Share--Basic (3) $1.07 $(2.93) $1.35 $1.27 $0.49 $0.51 $0.60 $0.55 $0.50 $0.54 $0.43
   Earnings (Loss) per Share--Diluted (3) $1.07 $(2.93) $1.26 $1.25 $0.49 $0.51 $0.57 $0.55 $0.50 $0.54 $0.43
Assets
   Current Assets $50,605,488 $35,246,431 $29,981,786 $101,619,478 $43,380,454 $39,208,418 $65,307,120 $30,830,173 $47,859,278 $72,537,521 $54,818,404
   Oil and Gas Properties, Net of Accumulated
      Depreciation, Depletion, and Amortization $392,986,589 $356,711,711 $301,312,847 $200,010,375 $125,217,872 $88,415,612 $89,656,577 $64,301,509 $47,655,917 $41,952,212 $27,935,170
Total Assets $454,299,414 $403,645,267 $339,115,390 $310,375,264 $175,252,707 $135,672,743 $160,892,917 $100,243,469 $101,421,573 $118,227,480 $85,007,293
Liabilities
   Current Liabilities $34,070,085 $31,415,054 $28,517,664 $32,915,616 $40,133,269 $52,345,859 $55,565,437 $27,876,687 $50,851,447 $71,514,938 $49,354,128
   Long-Term Debt $239,068,423 $261,200,000 $122,915,000 $115,000,000 $28,750,000 $28,750,000 $28,750,000 $0 $0 $0 $0
Total Liabilities $283,895,297 $294,282,628 $179,714,470 $167,613,654 $81,906,742 $93,545,612 $106,427,203 $50,962,183 $62,761,217 $82,559,406 $57,198,476
Stockholders’ Equity $170,404,117 $109,362,639 $159,400,920 $142,761,610 $93,345,965 $42,127,131 $54,465,714 $49,281,286 $38,660,356 $35,668,074 $27,808,817
Number of Employees 173 203 194 191 176 209 188 178 171 164 131
Producing Wells
   Swift Operated 769 836 650 842 767 750 795 688 674 691 579
   Outside Operated 788 917 917 986 3,316 3,422 3,407 1,978 2,331 2,228 1,537
Total Producing Wells 1,557 1,753 1,567 1,828 4,083 4,172 4,202 2,666 3,005 2,919 2,116
Wells Drilled (Gross) 27 75 182 153 76 44 34 40 27 23 21
Proved Reserves
   Natural Gas (Mcf) 329,959,749 352,400,835 314,305,669 225,758,201 143,567,520 76,263,964 64,462,805 41,638,100 36,685,881 30,731,741 14,945,348
   Oil & Condensate (barrels) 20,806,263 13,957,925 7,858,918 5,484,309 5,421,981 4,553,237 4,271,069 2,901,621 1,950,209 1,690,520 1,422,815
Total Proved Reserves (Mcf equivalent) 454,797,327 436,148,385 361,459,177 258,664,055 176,099,406 103,583,566 90,089,219 59,047,824 48,387,138 40,874,862 23,482,236
Production (Mcf equivalent) (4) 42,874,303 39,030,030 25,393,744 19,437,114 11,186,573 9,600,867 7,368,757 5,678,772 3,980,460 3,303,750 1,900,302
Average Sales Price
   Natural Gas (per Mcf) $2.40 $2.08 $2.68 $2.57 $1.77 $1.93 $1.96 $1.90 $1.58 $1.72 $1.73
   Oil (per barrel) $16.75 $11.86 $17.59 $19.82 $15.66 $14.35 $15.10 $17.19 $18.26 $22.70 $17.93

(1)Additional 1994 Data: Income Before Cumulative Effect of Change in Accounting Principle–$3,725,671; Cumulative Effect of Change in Accounting Principle–$(16,772,698); Per Share Amounts–Basic–Income Before Cumulative Effect of Change in Accounting Principle–$0.51, Cumulative Effect of Change in Accounting Principle–$(2.29); Per Share Amounts–Diluted–Income Before Cumulative Effect of Change in Accounting Principle–$0.51, Cumulative Effect of Change in Accounting Principle–$(2.29)

(2)As of January 1, 1994, we changed our revenue recognition policy for earned interests. Accordingly, in 1994 to 1999, "Fees and Earned Interests" does not include earned interests revenues.

(3)Amounts have been retroactively restated in all periods presented to give recognition to: (a) an equivalent change in capital structure as a result of two 10% stock dividends, one in September 1994, the other in October 1997 (see Note 2 to the Consolidated Financial Statements); and (b) the adoption of Statement of Financial Accounting Standards No. 128, "Earnings per Share" (see Note 2 to the Consolidated Financial Statements).

(4)Natural gas production for 1992, 1993, 1994, 1995, 1996, 1997, 1998 and 1999 includes 1,148,862, 1,581,206, 1,358,375, 1,211,255, 1,156,361, 1,015,226, 866,232 and 728,235 Mcf, respectively, delivered under our volumetric production payment agreement (see Note 1 to the Consolidated Financial Statements).

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