discovery and production

volume of PetroQuest Energy, Inc. (NYSE: PQ)increased in US Market and US$7million amount bought before announcement released..
GGEO is still bargain and more likely will be over 100% profit easily.

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.

Management Statement

"Our high impact La Cantera discovery should exhibit a stable production profile analogous to our 2008 Pelican Point discovery" said Charles T. Goodson, Chairman, Chief Executive Officer and President. "Due to the projected size of the reservoir, we are evaluating a multi-well delineation program to accelerate the development of this significant asset. Additionally, our emerging liquids rich horizontal Cotton Valley program provides us another growth vehicle that generates attractive rates of return. We remain committed to our philosophy of internally funding our capital program, even in the current gas price environment."

About the Company

PetroQuest Energy, Inc. is an independent energy company engaged in the exploration, development, acquisition and production of oil and natural gas reserves in the Arkoma Basin, Wyoming, Texas, South Louisiana and the shallow waters of the Gulf of Mexico. PetroQuest's common stock trades on the New York Stock Exchange under the ticker PQ.



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