Swift Energy Hits in Plaquemines Parish

Swift Energy Company reports that the CM #187 well encountered approximately 340 feet of net pay as indicated by log analysis. This is the sixth well of a 20 well development program planned for 2002 in the Lake Washington Field in Plaquemines Parish, Louisiana. This well was drilled to a depth of 6,158 feet and intersected three different hydrocarbon-bearing sands, including one of the F-series sands, a horizon that has not previously produced in the field. The well was drilled by Transocean Inc.'s inland barge, Rig19. Completion operations on the wells in this development program are scheduled to begin in early June with production expected to commence in July. Swift has a 100% working interest in this well.