Swift Energy Company: 2007 Form 10-K, Consolidated Balance Sheets

(in thousands, except share amounts)	Year Ended December 31,
	2007			2006
ASSETS
Current Assets:
Cash and cash equivalents	$	5,623		$	1,058
Accounts receivable-
Oil and gas sales		72,916			63,935
Joint interest owners		1,587			1,844
Other Receivables		1,324			1,231
Deferred tax asset		8,055			2,383
Other current assets		13,896			13,332
Current assets held for sale		96,549			---
Total Current Assets		199,950			83,783

Property and Equipment:
Oil and gas, using full-cost accounting
Proved properties		2,610,469			1,918,375
Unproved properties		106,643			95,569
		2,717,112			2,013,944
Furniture, fixtures, and other equipment		33,064			26,020
		2,750,176			2,039,964
Less – Accumulated depreciation, depletion, and amortization		(989,981	)		(800,242	)
		1,760,195			1,239,722
Other Assets:
Debt issuance costs		7,252			7,382
Restricted assets		1,654			2,415
Long-term assets held for sale		---			252,380
		8,906			262,177
	$	1,969,051		$	1,585,682

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable and accrued liabilities	$	89,281		$	73,921
Accrued capital costs		94,947			55,282
Accrued interest		7,558			8,764
Undistributed oil and gas revenues		10,309			7,504
Current liabilities associated with assets held for sale		8,066			---
Total Current Liabilities		210,161			145,471
Long-Term Debt		587,000			381,400
Deferred Income Taxes		302,303			212,458
Asset Retirement Obligation		31,066			28,533
Other Long-Term Liabilities		2,467			1,728
Long-term liabilities associated with assets held for sale		---			18,175

Commitments and Contingencies

Stockholders' Equity:
Preferred stock, $.01 par value, 5,000,000 shares authorized, none outstanding		---			---
Common stock, $.01 par value, 85,000,000 shares authorized, 30,615,010 and 30,170,004 shares issued, and 30,178,596 and 29,742,918 shares
outstanding, respectively		306			302
Additional paid-in capital		407,464			387,556
Treasury stock held, at cost, 436,414 and 427,086 shares, respectively		(7,480	)		(6,125	)
Retained earnings		436,178			415,868
Accumulated other comprehensive income (loss), net of income tax		(414	)		316
		836,054			797,917
	$	1,969,051		$	1,585,682

FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 2007

Consolidated Balance Sheets

Swift Energy Company and Subsidiaries

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