PetroQuest Energy, Inc (PQUE and T.PQU) Message Board

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Gold/Mining/Energy : PetroQuest Energy, Inc (PQUE and T.PQU)

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To: Ronald J. Clark who wrote (37)	4/20/1997 11:52:00 PM
From: Ed Ajootian	of 686

Ron, Optima's net revenue interest in the E. Cameron field is only about 5.5% so the well they hit there in late 4th quarter would have added little new production. The market has ignored all of the earlier news about E. Cameron for Optima for this very reason. All oil & gas wells naturally decline with time. The first year is usually when they decline the most in percentage terms. So all those wells that Optima hit in 3rd and 4th quarter '96 are now declining more than the piddly new production coming from E. Cameron. Thats my guess. Could also be something to do with Turtle Bayou as you have guessed. They had a massive writedown of reserves in that field as of 12/31/96 and decreased production would be a likely contributing reason for that.

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