PetroQuest announces tender, consent solicitation for 10 3/8% notes

By Devika Patel

Knoxville, Tenn., Aug. 5 - PetroQuest Energy, Inc. announced that it has launched a cash tender offer and consent solicitation for all $150 million of its 10 3/8% senior notes due 2012.

The offer will expire at 11:59 p.m. ET on Sept 1.

Holders who tender and provide consents prior to the consent payment deadline of 5 p.m. ET on Aug. 18 will receive the total consideration of $1,028.44 per $1,000 of notes, which includes a consent payment of $2.50 per $1,000 of notes, plus interest up to, but not including, the payment date.

Holders who tender their securities after the consent payment deadline but on or prior to the expiration date will receive the tender offer consideration of $1,025.94 per $1,000 of the notes, plus interest to the payment date.

J.P. Morgan Securities Inc. (800 245-8812 or 212 270-3994) is the dealer manager and solicitation agent. MacKenzie Partners, Inc. (800 322-2885 or 212 929-5500) is the information agent.

PetroQuest is a Lafayette, La.-based energy company.

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