GGE 20.0% 0.4¢ grand gulf energy limited

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    LAFAYETTE, La., July 18, 2011 /PRNewswire/ -- PetroQuest Energy, Inc. (NYSE:PQ - News) announced today a discovery at its La Cantera Prospect located in Vermilion Parish, LA. The Company has an approximate 16% net revenue interest in the well, which reached a total depth of 18,550 feet and logged 232 gross feet (176 feet net) of highly resistive sand within the primary Cris R Massive objective. As a result of stuck pipe in the bottom 550 feet of the well, the Company was only able to obtain porosity information in the upper portion of the logged sands which confirmed 37 feet of net commercial pay. The Company is currently side tracking the wellbore in order to fully evaluate the entire sand package and test deeper objectives. The well has a proposed vertical depth of 19,300 feet and is expected to be on production during the fourth quarter.
 
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