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

To: Robert T. Quasius who wrote (650)	2/14/1999 6:22:00 PM
From: Mark	Read Replies (3) \| Respond to of 1602

Hi folks, I've been lurking, and it's good to see the thread pick up again (in number of posts and optimism !) I don't want to rain on anyone's parade, but there are some questions which arise out of the recent posts that I'd really like to know the answers to........ 1) SFY's fortunes are destined by the market price of NG. Since these are presumably driven by supply/demand forces, which are somewhat seasonal AND influenced by the cost of oil, isn't it likely that the next few months will see their market prices decline ? And, isn't a recovery in these at least 12 mos (maybe 2 - 3 years away ?). 2) A number of you keep saying how "great" SFY's management are ? What is the evidence for this ? (I'm not saying this isn't true, I'd just like to have some justification. e.g. presumably a "great" management would have a cash-strong position going into a recession, would do their utmost to preserve their profits during this period, and use it as an opportunity to expand their activities at the expense of other/weaker players ?) 3) Presumably SFY have a lot of debt ? How much of the cashflow is required to service the debt, and what is their exposure to interest rate moves ? 4) I also noted a recent comment about SFY's costs increasing...... Really ? I'm gobsmacked ! In a market with declining prices how come their costs are going up ??????? Shouldn't they be going down if the company is going to survive ? I guess these aren't easy questions, but I'd really appreciate it if you could give me some good reasons to average down (again). SFY is (was) my largest holding, and is one of three stocks which is showing a > -70% loss. (The others being TMAR & HMAR). I'd love to reduce at least one of those big red % signs, but am very scared of risking more money here. Thanks Mark