PetroQuest Energy Announces Pricing Of $200 Million Of 10% Senior Notes Due 2017

 PetroQuest Energy Announces Pricing Of $200 Million Of 10% Senior Notes Due

PR Newswire

LAFAYETTE, La., June 28, 2013

LAFAYETTE, La., June 28, 2013 /PRNewswire/ -- PetroQuest Energy, Inc. (NYSE:
PQ) announced today that it has priced its previously announced private
offering of $200 million aggregate principal amount of 10% Senior Notes due
2017 (the "New Notes"). The notes will be issued at a price equal to 100% of
their face value plus accrued interest from March 1, 2013. The New Notes will
have terms that, subject to certain exceptions, are substantially identical to
the Company's existing $150 million aggregate principal amount of 10% Senior
Notes due 2017.

Subject to certain special redemption provisions, the Company intends to use
the net proceeds from the offering to fund the purchase price of the Company's
previously announced proposed acquisition of certain producing oil and gas
assets located in the shallow waters of the Gulf of Mexico from Hall-Houston
Exploration II, L.P., Hall-Houston Exploration III, L.P., Hall-Houston
Exploration IV, L.P. and GOM-H Exploration, LLC (the "Acquisition") for
approximately $193million in cash and, to the extent any net proceeds remain
after such use, for general corporate purposes.

The Company expects to close the sale of the New Notes on July 3, 2013,
subject to the satisfaction of customary closing conditions.

The securities have not been registered under the Securities Act, or any state
securities laws, and unless so registered, the securities may not be offered
or sold in the United States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the Securities
Act and applicable state securities laws. The Company plans to offer and sell
the New Notes only to qualified institutional buyers pursuant to Rule 144A
under the Securities Act and to persons outside the United States pursuant to
Regulation S under the Securities Act.

This news release does not constitute an offer to sell or solicitation of an
offer to buy any security, nor will there be any sale of such security in any
jurisdiction in which such offer, sale or solicitation would be unlawful prior
to registration or qualification under the securities laws of any such

Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking statements
are subject to certain risks, trends and uncertainties that could cause actual
results to differ materially from those projected. Among those risks, trends
and uncertainties are our ability to successfully complete pending
acquisitions, integrate them with our operations and realize the anticipated
benefits from the acquisitions, any unexpected costs or delays in connection
with the acquisitions, our ability to find oil and natural gas reserves that
are economically recoverable, the volatility of oil and natural gas prices and
significantly depressed natural gas prices since the middle of 2008, the
uncertain economic conditions in the United States and globally, the declines
in the values of our properties that have resulted in and may in the future
result in additional ceiling test write-downs, our ability to replace reserves
and sustain production, our estimate of the sufficiency of our existing
capital sources, our ability to raise additional capital to fund cash
requirements for future operations, the uncertainties involved in prospect
development and property acquisitions or dispositions and in projecting future
rates of production or future proved, probable and possible reserves, the
timing of development expenditures and drilling of wells, hurricanes and other
natural disasters, changes in laws and regulations as they relate to our
operations, including our fracing operations in shale plays or our operations
in the Gulf of Mexico, and the operating hazards attendant to the oil and gas
business. In particular, careful consideration should be given to cautionary
statements made in the various reports PetroQuest has filed with the
Securities and Exchange Commission. PetroQuest undertakes no duty to update or
revise these forward-looking statements.

SOURCE PetroQuest Energy, Inc.

Contact: Matt Quantz, Manager - Corporate Communications, (337) 232-7028,
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