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Swift Energy Announces: 13% Increase In Third Quarter 2012 Production To 2.87 Million Barrels Of Oil Equivalent

Southeast Louisiana

In the Lake Washington field in Plaquemines Parish, LA, the Company continued its ongoing recompletion and production optimization program, performing four recompletions and fourteen production optimization projects during the quarter. The Company previously announced results of the recompletion of the LL&E #5, also known as the Jelly Bowl prospect. This well tested at 1,544 barrels of oil per day and 1.0 million cubic feet of gas per day on a 22/64” choke. An offset drilling location to this well is being prepared and will be drilled in the first half of 2013.

The Company completed one well, the CM 423, at Lake Washington during the third quarter. The well was drilled to a measured depth of 9,016 feet, encountered 202 feet of true vertical pay and tested 912 barrels of oil per day and 0.3 million cubic feet of gas per day on a 22/64” choke.

Swift Energy also drilled the CM 427, CM 426 and CM 429 in the third quarter and has now completed two of these during the fourth quarter.

The CM 427 was drilled to a measured depth of 4,300 feet and encountered 104 feet of true vertical pay; it reported an initial rate of 971 barrels of oil per day and 0.3 million cubic feet of gas per day. The CM 426, drilled to a measured depth of 4,659 feet, encountered 18 feet of true vertical pay, and tested 144 barrels of oil per day and 0.1 million cubic feet of gas per day of gas. The CM 429 will be completed by the end of 2012.

Central Louisiana/East Texas

In the Burr Ferry field in Vernon Parish, LA, the Company’s partner completed and tested the Forestar Minerals 18-1, which targeted the Austin Chalk. Initial production test rates of this well were 1,056 barrels of oil per day and 3.0 million cubic feet of gas per day with flowing tubing pressure of 4,000 psi on a 30/64” choke.

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