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

To: Mark who wrote (761)	4/17/1999 1:40:00 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 1602

Mark, Just starting to look at SFY and your post was very helpful. I can't believe it is still selling at < 3 times 4Q '98 annualized cash flow given that both oil & gas prices have increased so much over what they were in that period. Not sure how you came up with oil being 35% of total production. Oil comprised about 20% of their total proved reserves @ 12/31/98 and I would have expected relative production to be in a similar proportion. Maybe a lot of their gas reserves are PUD's. With gas going back up hopefully this company will have have the guts to go out and borrow some more money to drill this stuff out. This is the time to go for it IMO. I would like to buy some of this stock but am wondering whether to jump in now or wait for a possible dip on the 1st quarter earnings release. Based on the volume last week it looks like the market is ready to start bidding this thing up now.