Exhibit 12
SWIFT ENERGY COMPANY
RATIO OF EARNINGS TO FIXED CHARGES (in thousands)
	Twelve Months
	Ended December 31,
	2008		2009		2010		2011		2012
GROSS G&A	86,212		69,987		73,268		87,826		89,344
NET G&A	38,673		34,046		36,359		45,362		46,778
INTEREST EXPENSE, NET	31,079		30,663		33,437		35,566		57,303
RENTAL & LEASE EXPENSE	2,947		3,973		5,181		5,642		5,636
INCOME FROM CONTINUING OPERATIONS, BEFORE INCOME
TAXES AND CHANGE IN ACCOUNTING PRINCIPLE	(412,758)		(64,617)		74,308		135,104		36,578
CAPITALIZED INTEREST	8,037		6,107		7,408		7,667		7,890
CALCULATED DATA
EXPENSED OR NON-CAPITAL G&A (%)	44.86	%	48.65	%	49.62	%	51.65	%	52.36	%
NON-CAPITAL RENT EXPENSE	1,322		1,933		2,571		2,914		2,951
1/3 NON-CAPITAL RENT EXPENSE	441		644		857		971		984
FIXED CHARGES	39,557		37,414		41,702		44,204		66,177
EARNINGS	(381,238)		(33,310)		108,602		171,641		94,865
RATIO OF EARNINGS TO FIXED CHARGES	---		---		2.60		3.88		1.43
Amount needed for a "break-even" ratio earnings	420,795		70,724
For purposes of calculating the ratio of earnings to fixed charges, fixed
charges include interest expense, capitalized interest, amortization of
debt issuance costs and discounts, and that portion of non-capitalized
rental expense deemed to be the equivalent of interest. Earnings
represents income before income taxes and cumulative effect of change in accounting
principle before interest expense, net, and that portion of rental expense deemed to
be the equivalent of interest. Due to the $754.3 million non-cash charge incurred
in the fourth quarter of 2008, and the $79.3 million non-cash charge incurred in the first
quarter of 2009, both caused by a write-down in the carrying value of oil and gas
properties, 2008 earnings were insufficient by $420.8 million, and 2009
earnings were insufficient by $70.7 million, to cover fixed charges in these periods.