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Gold/Mining/Energy : Swift Energy (SFY) -- Ignore unavailable to you. Want to Upgrade?

To: PuddleGlum who wrote (1355)	12/15/2000 2:42:42 AM
From: Rich Wolf	Respond to of 1602

I'm still getting a 'feel' for how the oil sector trades, and am wondering if the street might be thinking that a slowdown means lessening demand for energy. I hope they're wrong re: extent of economic downturn (if AG acts soon enough), though am wondering if folks will get pink slips for Christmas; yet winter looks to be cold (though that could change); do E+P investors prefer to wait to be shown the money first? Long term SFY, no 'common sense' here, thinking we could be triple in 2002 ... if if if ... but double in a year, I'll still take <ggg> Also thinking that the converts are presenting an opportunity, and am looking for the best. Thanks for all the posts, guys! Mostly lurking and learning here. Regards, Rich

To: PuddleGlum who wrote (1355)	12/18/2000 7:12:55 PM
From: Robert T. Quasius	Respond to of 1602

More good news! Successful Well Completion in South Burr Ferry Reported By Swift Energy Company HOUSTON, Dec. 18 /PRNewswire/ -- Swift Energy Company (NYSE: SFY; PCX) announced today that it had successfully completed and tested its initial well in the South Burr Ferry Field, Vernon Parish, LA. The Swenco 25 #1 (92.5% working interest, 91.4% net revenue interest) tested at rates of 338 barrels of oil per day and 6.2 million cubic feet of gas per day on a 24/64-inch choke with 4,925 pounds of flowing tubing pressure. This well has been placed on production and during its initial 24 hours produced 980 barrels of oil and 3.7 million cubic feet of gas on a 30/64-inch choke with 4,200 pounds of flowing tubing pressure. This is the first well drilled by the Company to test the potential of the South Burr Ferry Field, which is located 40 miles west of the prolific Masters Creek Field in Rapides Parish, LA and 21 miles southeast of the Brookeland Field in Newton County, TX. There are four producing wells drilled by others in this field, but there has been no new activity in over three years. The Company has interests in approximately 43,000 gross acres (38,000 net acres) in this area. This field will initially be developed using 1,440-acre spacing units. Additionally, the Company also owns the mineral or royalty interests in 31,700 acres or approximately three-fourths of this area. This well encountered the Austin Chalk formation at an approximate depth of 14,200 feet and was drilled with a single horizontal lateral a total distance of 5,600 feet. Wells drilled in this area are expected to cost approximately $4.0 - $4.5 million. Terry Swift, President of Swift Energy Company, stated, ``We have identified the South Burr Ferry area as having the potential for significant development in the Austin Chalk formation similar to that found in the Masters Creek Field and the Brookeland Field. The results of this initial well confirm our original expectations, and indicate that we may have found another very productive section in the Austin Chalk. With our substantial acreage position, we believe that this area promises to contribute considerably to our future growth.''