PetroQuest Energy, Inc. (OTCMKTS:PTQEP) Files An 8-K Submission of Matters to a Vote of Security Holders

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PetroQuest Energy, Inc. (OTCMKTS:PTQEP) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders.

PetroQuest Energy, Inc. (the “Company”) held a special meeting (the “Special Meeting”) of the holders of the Company’s common stock (the “Common Stock”) on November 29, 2017. The following proposals were submitted to the holders of the Common Stock for a vote:

1.The ratification of the filing and effectiveness of the certificate of amendment to the Company’s certificate of incorporation filed with the Secretary of State of the State of Delaware on May18, 2016 and the one-for-four reverse stock split of the Common Stock that was effected thereby and became effective on May18, 2016 (the “Reverse Stock Split Amendment Ratification”);

2.The ratification of the filing and effectiveness of the certificate of amendment to the Company’s certificate of incorporation filed with the Secretary of State of the State of Delaware on May18, 2016 and the amendment to the removal of directors provision that was effected thereby (the “Director Removal Amendment Ratification” and, together with the Reverse Stock Split Amendment Ratification, the “Ratifications”); and

3.The approval of an adjournment of the Special Meeting from time to time, if necessary or appropriate (as determined in good faith by the Company’s Board of Directors or a committee thereof), to solicit additional proxies if there are not sufficient votes in favor of any of the Ratifications (the “Adjournment Proposal”).

The results of such votes were as follows:

1.The following votes were cast in the Reverse Stock Split Amendment Ratification:

Number of Votes Voted For

Number of Votes Voted Against

Number of Votes Abstaining

Number of Broker Non-Votes

16,933,342

224,457

34,305

In accordance with the above results, the Reverse Stock Split Amendment Ratification was ratified and the Company has filed a certificate of validation in respect of the Reverse Stock Split Amendment Ratification with the Secretary of State of the State of Delaware.

2.The following votes were cast in the Director Removal Amendment Ratification:

Number of Votes Voted For

Number of Votes Voted Against

Number of Votes Abstaining

Number of Broker Non-Votes

16,990,078

143,352

58,674

In accordance with the above results, the Director Removal Amendment Ratification was ratified and the Company has filed a certificate of validation in respect of the Director Removal Amendment Ratification with the Secretary of State of the State of Delaware.

3.The following votes were cast in the Adjournment Proposal:

Number of Votes Voted For

Number of Votes Voted Against

Number of Votes Abstaining

Number of Broker Non-Votes

16,803,603

334,259

54,242


About PetroQuest Energy, Inc. (OTCMKTS:PTQEP)

PetroQuest Energy, Inc. is an oil and gas company. The Company is engaged in exploratory, development and acquisition activities. The Company has approximately 30 gross exploratory wells and over 30 gross development wells. The Company has reserves in various areas, including East Texas, Gulf Coast Basin and Oklahoma Woodford. Its annual production from East Texas area is approximately 114.1 billions of cubic feet equivalent (Bcfe); Gulf Coast Basin is over 43.9 Bcfe, and Oklahoma Woodford is approximately 20.0 Bcfe. The net production from its East Texas assets averages over 30.4 millions of cubic feet equivalent (MMcfe) per day. Production from Gulf Coast Basin area totals approximately 37.8 MMcfe per day. The average daily production from its Oklahoma-Woodford properties totals over 25 MMcfe per day. The Company sells its oil and natural gas production under fixed or floating market contracts.