PetroQuest Drills 2nd Well at Berry Lake Prospect

PetroQuest Energy has drilled a second successful well at its Berry Lake Prospect located in Iberville Parish in South Central Louisiana. PetroQuest has a 71.5% working interest and operates the well, which has been drilled and encountered approximately 41 feet (TVD) of net productive sands. The well is being completed with first production expected by the middle of February. The Company anticipates that the well will produce at an initial gross rate of approximately 750-1,000 barrels of oil per day.

"This is the second successful well we've drilled in our Atchafalaya Basin program area and the knowledge gained here further supports our geologic model of the area. We expect to begin drilling another well in the Atchafalaya Basin at our Murphy Castle Prospect in February," said Charles Goodson, PetroQuest's Chairman and Chief Executive Officer. "In addition to these operations, we are currently drilling a well at our Redfish Prospect with results expected by the end of January."