Swift Energy Prepares for Hurricane Rita

Swift Energy reports that standard hurricane shut-down procedures were implemented beginning Tuesday, September 20, for all of its coastal Louisiana properties including the Lake Washington Field in Plaquemines Parish, the Bay de Chene Field in Jefferson and Lafourche Parishes, and the Cote Blanche Island Field in St. Mary's Parish, due to potentially worsening weather conditions from approaching Hurricane Rita. Production in the fields has been shut-in, and drilling, completion and recompletion operations, as well as the repair work to the facilities that had begun as a result of the damage caused by Hurricane Katrina, have temporarily ceased. All personnel are being evacuated from the fields, two third-party owned drilling rigs are being flooded and pinned down in the field and two workover/completion rigs along with the remaining work barges and equipment are being towed to protected waters. Swift Energy will continue to monitor the storm's path and respond accordingly.

Limited production testing of facilities had started at Lake Washington following Hurricane Katrina beginning Sunday, September 18, 2005, at the 6700 and 212 platforms with crude oil from naturally flowing wells. Production had not yet been restored at the CM3 platform at Lake Washington or at Bay de Chene. Repair work required as a result of Hurricane Katrina and production will be resumed in both fields as soon as practicable after Hurricane Rita passes the area or is no longer deemed a threat.