PetroQuest Energy Announces Officer Promotions

LAFAYETTE, La., March 7 /PRNewswire-FirstCall/ -- PetroQuest Energy, Inc. announced today that W. Todd Zehnder has been promoted to Executive Vice President, Chief Financial Officer and Treasurer. Prior to his promotion, Mr. Zehnder served the Company as Vice President of Corporate Development and Vice President of Oil & Gas Marketing, as well as other positions including Controller. Prior to joining PetroQuest in December 2001, he served the oil and gas industry for five years with KPMG LLP, where he attained the level of Manager. Mr. Zehnder is a Certified Public Accountant and earned a Bachelor of Science Degree from Louisiana State University in 1996. Mr. Zehnder is a member of Independent Petroleum Association of America, the Louisiana Oil & Gas Association, and the American Institute of Certified Public Accountants.

Michael O. Aldridge, the Company's Executive Vice President, Chief Financial Officer and Treasurer, has resigned from his positions effective March 5, 2008 to pursue other interests. Mr. Aldridge is expected to remain with the company as an employee to assist with transitional matters.

J. Bond Clement has been promoted to Senior Vice President and Chief Accounting Officer. Mr. Clement previously served as Vice President of Finance and Controller. Prior to joining PetroQuest in October 2004, Mr. Clement spent eight years in a variety of finance and accounting related management positions at Stone Energy Corporation and Freeport-McMoRan, Inc. From 1993 to 1996, Mr. Clement worked at Arthur Andersen LLP primarily serving energy related clients. Mr. Clement earned a Bachelor of Science Degree in Accounting, Cum Laude, from Louisiana State University in 1993 and is a Certified Public Accountant.

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 find oil and natural gas reserves that are economically recoverable, the volatility of oil and natural gas prices, declines in the values of our properties resulting in 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 estimating quantities of proved oil and natural gas reserves, in prospect development and property acquisitions or dispositions and in projecting future rates of production, the timing of development expenditures and drilling of wells, hurricanes and other natural disasters, 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.