Swift Energy Commences Public Offering

Swift Energy has commenced a public offering of 5,000,000 shares of its common stock. The net proceeds of this offering will be used to pay down borrowings under the Company's revolving credit facility and to use the funds then made available under that credit facility for general corporate purposes. The Company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock to cover over-allotments, if any.