PetroQuest Energy Voluntarily Delists From the Toronto Stock Exchange LAFAYETTE, La.--(BUSINESS WIRE)--Jan. 10, 2001--PetroQuest Energy, Inc. (Nasdaq:PQUE - news; TSE:PQU - news) announced today that at the close of trading on Friday, January 19, 2001, its stock will be voluntarily delisted from the Toronto Stock Exchange (``TSE''). PetroQuest's stock, which also currently trades on the Nasdaq Stock Market, will continue to trade on that market under its current ticker symbol ``PQUE''. The Company decided to delist its stock from the TSE because it no longer has Canadian operations, substantially all of its current trading volume is on the Nasdaq Stock Market, and the delisting eliminates the increased administration and cost associated with a dual listing. PetroQuest Energy, Inc. is an independent oil and gas exploration and production company primarily focused on growing its reserves and shareholder value through a combination of drilling development locations and high potential exploration prospects along the coast of and in the Gulf of Mexico. This press release includes certain statements that may be deemed to be ``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. All statements other than statements of historical facts, included in this press release that address activities, events or developments that the company expects, believes or anticipates will or may occur in the future, including drilling of wells, reserve estimates, future production of oil and gas, future cash flows and other such matters are forward-looking statements. Such forward-looking statements are subject to certain risks, uncertainties and other factors, which could cause actual results to differ materially from those currently anticipated. These factors include, without limitation, uncertainties inherent in estimating proven oil and gas reserves, future rates of production and timing of development expenditures; results of exploratory and development drilling; operating hazards attendant to the oil and gas business; the successful identification, acquisition and development of properties; and changes in the price received for oil and/or gas which may effect results of operations and cash flows. Readers are cautioned that any such statements are not guarantees of future performance and the company can give no assurances that actual results or developments will not differ materially from those projected in the forward-looking statements. Contact: PetroQuest Energy, Inc. Robert R. Brooksher Vice President - Corporate Communications 337/232-7028