PetroQuest Energy reported that its second well in
the Berry Lake Field previously announced as a success has been determined to
be non-commercial. The well was completed after conventional evaluation,
including third party core and log analysis, which indicated results analogous
to commercially productive wells in the area. However, the well flowed oil in
uneconomic quantities when placed on production.
The Company's initial discovery well at Berry Lake Field continues to
produce as expected. The second well was designed to test an adjacent fault
block, which had the potential to increase the reserves attributable to the
structural complex by approximately 25%.