PetroQuest Energy Announces Production Results

PetroQuest Energy, Inc. announced current average daily production net to the Company of approximately 42,000 Mcfe per day which represents an increase of 100% from the 21,000 Mcfe per day previously announced as the year-end 2000 production exit rate.

With no additional exploration success, the Company plans to maintain this average daily production rate through the end of the year. Recent production increases include wells No. 1 and No. 2 at the Jaguar Prospect at Eugene Island Block 147 which commenced production at a combined rate of 4,500 Mcfe per day net to the Company. In addition, at the Ship Shoal 72 Field, the No. 17 well at the Chardonnay Prospect began producing at 7,000 Mcfe per day net to the Company, and the No. 6 well at the Sauvignon Blanc Prospect began producing at a net rate to PetroQuest of 3,500 Mcfe per day.


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