Exhibit 99.1

February 2007

400 East Kaliste Saloom Road, Suite 6000

Lafayette, Louisiana 70508
Phone: (337) 232-7028
Fax: (337) 232-0044
www.petroquest.com

NYSE: PQ

Corporate Contact: Todd Zehnder

The information presented herein may contain predictions, estimates and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although
the company believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals
will be achieved. Important factors that could cause actual results to differ materially from those included in the forward
looking statements include the timing and extent of changes in commodity prices for oil and gas, the need to develop and
replace reserves, the impact of inclement weather conditions including hurricanes, drilling and operating risks, uncertainties
about the estimates of reserves, competition, environmental risks, government regulation and the ability of the company to
meet its stated business goals.

Opening Remarks

Corporate Characteristics

Historically, our growth has come through the drill bit and strategic acquisitions

7-year historical drilling success – 88%

7-year F&D and Reserve Replacement – $2.52/Mcfe and 255%

Added resource play acreage to growth profile – closed 12 acquisitions (68 Bcfe) since December
2003 (blended cost of $1.44/Mcfe)

Top quartile operator among peers

Highly experienced team with proven track record for generating shareholder returns

Merger

$0.81

$5.32

$791

$163

$12.74

Adding Up Our Milestones

Seven Years of Growth

Reserves 38% CAGR

Production 39% CAGR

Cash Flow 137% CAGR

Shareholders’ Equity 35% CAGR

Stock price 39% CAGR

Optimize Existing Production

Development Drilling

Resource Play Development

Synergistic Acquisitions

Exploration Program

Increases in Corporate Metrics

Company Growth Strategy

Arkoma

Basin

East Texas

Gulf Coast Region

Lafayette

Houston

New Orleans

Non-operated

PQ operated

We have grown beyond

being solely a Gulf Coast

Basin company – our goal

is to have 75% of our reserves

in long-lived basins

52% Reserves

48% Reserves

Our Properties

EAST TX

ARKOMA

South

Louisiana

Offshore

GOM

UNCONVENTIONAL PLAYS

Proved

Reserves (1)

Drilling

Locations (1)

Yearly

Prod. (2)

EAST TEXAS

ARKOMA

SOUTH LOUISIANA

OFFSHORE GULF OF MEXICO

Three separate
basins – all
core to PQ

Gulf Coast

Net Unrisked

Inventory (1)

(1) Reserves as of December 31, 2006; inventory and locations as of September 30, 2006 (reserves and inventory in Bcfe)

(2) Based on guidance for 2007 (79 – 85 MMcfe/day)

45.4

24.5

23.8

40.8

134.5

346

617

184

240

1,387

252

479

788

Our Portfolio

Three separate
basins – all
poised for
growth

Propelling our Future Growth

Approximately 40% of projected reserve growth will come from new “resource” plays

52% of our reserves are in long-lived basins

To date – 94% drill bit success rate in long-lived areas

31% of our daily production is from these areas

Concentration in three core areas with significant control of operations

Large acreage positions with expansion potential

Facilities ownership and control

Value adding potential through technology improvements in long-lived areas

Oklahoma

Arkansas

Hartshorne Coal

Arkoma

Basin

Woodford Shale

Trend

Approximately 35,000 net acres in the Hartshorne Coal

Approximately 25,000 net acres in the Woodford Shale

One rig working full time in the Hartshorne Coal

One operated rig working in the Woodford Shale; continuous non-operated activity in the Woodford Shale

Operate 152 miles of gathering system

Current production of ~10,000 Mcf/day; increasing monthly

Arkoma Basin

Arkoma Basin

Woodford Shale

PQ acreage

LEGEND

Caney Woodford Shale Trend

Fayetteville

Shale Trend

Barnett

Shale Trend

Texas

Oklahoma

Louisiana

Arkansas

Woodford Shale

Approximately 25,000 net acres

Projected 80 acre spacing – 300+ locations

Projected 40 acre spacing – 600+ locations

Current economics per horizontal well: 2.5 to 3.5 Bcf; $3.5MM to $4.5 completed
well cost; 2.5 to 4.0 MMcf/day I.P. rate

PQ currently drilling vertical and horizontal wells

Arkoma Basin – Emerging Resource Play

Woodford Shale Well Economics

Gas Price (per Mcf)

Hartshore Coal 2,500’

Mayes Shale Frac Barrier

Woodford Shale 7,000’

Sylvan Shale Frac Barrier

Cromwell Sandstone 5,400’

Caney Shale 6,400’

Arkoma Basin

East Texas Basin

62,000 gross acres; anchored by SE Carthage Field

11 MMcfe/day net production (average of 3^rdquarter)

10,500 Mcfe/day net production in SE Carthage Field

500 Mcfe/day net production in other areas

Travis Peak and Cotton Valley Formations

$1.9 MM average well cost – dual completion

1+ Bcfe reserve potential per well

Over 100 identified locations in SE Carthage Field

Four new areas entered during 2005 with 100+ possible locations

Three full time rigs working in the basin

SE CARTHAGE

GROSS ACRES: 45,000

I.P. RATE – 1,300

POTENTIAL DRILLS: 100+

MCF/DAY

NICKLAUS PROSPECT

GROSS ACRES: 1,546

POTENTIAL DRILLS: 15+

JONES PROSPECT

GROSS ACRES: 8,800

POTENTIAL DRILLS: 50+

SOUTH ALTO

GROSS ACRES: 4,247

I.P. RATE – 1,000

POTENTIAL DRILLS: 30

MCF/DAY

HOGAN PROSPECT

GROSS ACRES: 960

POTENTIAL DRILLS: 6

PALMER PROSPECT

GROSS ACRES: 1,562

POTENTIAL DRILLS: 10

PROSPECTS

DISCOVERIES

TEXAS

East Texas Basin

Capital Expenditure $1.9MM

Reserves 1.1 Bcfe

F&D Cost (per Mcf) $1.73

I.P. Rate 1.3 MMcfe/d

LOE $0.73 / Mcfe

Reserve Life 30+ years

Gas Price (per Mcf)

Carthage Field – Dual Completed Well Economics

East Texas Basin

PetroQuest Energy

Bill Barrett Corp

Carrizo Oil & Gas
Denbury Resources
EOG Resources
Gasco Energy
Goodrich Petroleum
Quicksilver Resources
Southwestern Energy
The Exploration Co.
Ultra Petroleum

Average, excluding PetroQuest

Average, excluding high / low & PetroQuest

2006E CF

Multiple⁽¹⁾

4.7

5.1

14.2

7.7

5.9

20.4

15.6

13.8

14.9

12.8

17.7

12.8

11.5

⁽¹⁾Consensus estimates Bloomberg L.P.; company stock prices as of 12/31/2006

2007E CF

Multiple⁽¹⁾

4.1

4.5

9.3
7.6
5.6
14.4

8.9
10.8
10.6
8.2

14.0

9.4

8.2

2008E CF

Multiple⁽¹⁾

3.3

3.8

7.8

5.9

4.8

9.1

4.8

9.5

8.0

8.2

10.6

7.25

6.6

Resource Players

Cash Flow Comparison

Lafayette

Atchafalaya (Drilling)

Kosati Pines

WC Drilling

Program

SS 72 Drilling

Program

Fricasse

Pelican Point

(Drilling)

Bandon

Dunes

Pacific Dunes

Ballyliffin

Brittas Bay

2007 Gulf Coast Drilling Program

Consistent Approach Generates

Continued Growth

Economic reserve additions and production growth

Effective cost control

Balanced portfolio of projects

Use acquisitions to augment future drilling program

East Texas

Arkoma

Gulf Coast

Bcfe

2007

2008

Growth in Reserves

in millions

Cash Flow Growth

$ / Mcf

Gross Margin

Onshore

Offshore

100% Gulf Coast

40% East

Texas

21% Arkoma

15% South

Louisiana

24% GOM

$160 - 175 million

Drill 70 - 80 Wells

$64 million

Drilled 10 Wells

2002

2007

Capital Investment Program –

Our Change is Complete

Drilling Activity Leads to Production Growth

Gulf Coast

East Texas

Arkoma

Bcfe

We’re Forecasting Production Growth

Framework for Future Growth

PetroQuest has the inventory and capability to continue its steady production and reserve
growth in all three basins

Resource plays forecasted to grow production and reserves in our long-lived areas

Continue to improve operating efficiencies in our long-lived areas through continuous drilling

15 high quality exploration prospects in inventory

Balance sheet supports reserve base expansion

Management owns largest portion of company among peer group

February 2007