Baker Street Delivers Letter To The Board Of Directors Of Swift Energy

LOS ANGELES, Oct. 16, 2014 /PRNewswire/ -- Baker Street Capital Management, LLC (together with its affiliates, "Baker Street"), one of the largest shareholders Swift Energy Company (NYSE: SFY) ("Swift" or the "Company"), with ownership of approximately 9.99% of the Company's outstanding common shares,  today announced that it delivered a letter to the Company's Board of Directors (the "Board"). 

In the letter, the full text of which is available at http://bit.ly/1yHNWGw, Baker Street explained its belief that the Company suffers from a material valuation discount largely due to the market's loss of confidence in the Company's current leadership. Under Swift's current leadership, shareholder value continues to be destroyed through poor capital allocation policies, repeated operational failures and poor corporate governance practices. Accordingly, Baker Street insisted that the Company should undergo a drastic change in strategic direction and called on the Board to immediately (i) add shareholder representation on the Board, (ii) focus on shareholder value above other considerations by ceasing all acreage acquisitions and evaluating low risk strategies and (iii) thoughtfully evaluate all available strategic alternatives, including a potential sale of the entire Company.

About Baker Street Capital Management, LLC

Baker Street Capital Management, LLC is a Los Angeles-based investment adviser with a focused approach to fundamental investing in deeply undervalued securities. Baker Street actively engages with companies to unlock value for the benefit of all shareholders.

Investor contact:
Vadim Perelman
(310) 246-0345   

SOURCE Baker Street Capital Management, LLC