##### 



Exhibit 3.1
 CERTIFICATE OF DESIGNATIONS OF
 6.875% SERIES B CUMULATIVE CONVERTIBLE PERPETUAL PREFERRED STOCK
 OF PETROQUEST ENERGY, INC.
 
 Company Certificate of Incorporation DGCL
 Series B Preferred Stock
   Holders Liquidation
Preference Dividend
Rate
 1




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##### 



provided however
   2




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Delayed Dividends
          3




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2 3 provided 2 3
 provided, however,
  Forced Conversion provided
  4




---



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Forced Conversion Date
     provided
   Redemption Date provided
 5




---



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Conversion Price Conversion Rate e.g.
   6




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Conversion Date
     7




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##### 



provided, however, provided further, however,
   Expiration Time Purchased Shares
 8




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Conversion Shares
 Distribution Date
   provided, however,
  9




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provided
         10




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Fundamental Change Notice Date Fundamental Change Notice
         Fundamental Change Purchase Date
 11




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Common Stock Value
Floor provided, however,
 Fundamental Change Purchase Notice
         12




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Additional Shares provided
 Stock Price
   Effective date
    
    $ 11.17
    
    $ 12.50
    
    $ 15.00
    
    $ 17.50
    
    $ 20.00
    
    $ 22.50
    
    $ 25.00
    
    $ 27.50
    
    $ 30.00
    
    $ 32.50
    
    $ 35.00
    
    $ 37.50
    
    $ 40.00
    
    $ 42.50
    
    $ 45.009/25/2007
    
    
    1.0330
    
    
    
    1.0131
    
    
    
    0.7159
    
    
    
    0.5462
    
    
    
    0.4299
    
    
    
    0.3444
    
    
    
    0.2892
    
    
    
    0.2463
    
    
    
    0.2124
    
    
    
    0.1883
    
    
    
    0.1656
    
    
    
    0.1482
    
    
    
    0.1331
    
    
    
    0.1199
    
    
    
    0.108610/20/2008
    
    
    1.0330
    
    
    
    0.9006
    
    
    
    0.6110
    
    
    
    0.4361
    
    
    
    0.3261
    
    
    
    0.2556
    
    
    
    0.2063
    
    
    
    0.1729
    
    
    
    0.1474
    
    
    
    0.1285
    
    
    
    0.1136
    
    
    
    0.1014
    
    
    
    0.0913
    
    
    
    0.0827
    
    
    
    0.075210/20/2009
    
    
    1.0330
    
    
    
    0.8238
    
    
    
    0.5041
    
    
    
    0.3128
    
    
    
    0.2016
    
    
    
    0.1383
    
    
    
    0.1021
    
    
    
    0.0807
    
    
    
    0.0673
    
    
    
    0.0581
    
    
    
    0.0515
    
    
    
    0.0462
    
    
    
    0.0418
    
    
    
    0.0381
    
    
    
    0.034810/20/2010
    
    
    1.0330
    
    
    
    0.8654
    
    
    
    0.5063
    
    
    
    0.1995
    
    
    
    0.0194
    
    
    
    0.0000
    
    
    
    0.0000
    
    
    
    0.0000
    
    
    
    0.0000
    
    
    
    0.0000
    
    
    
    0.0000
    
    
    
    0.0000
    
    
    
    0.0000
    
    
    
    0.0000
    
    
    
    0.0000after 10/20/2010
    
    
    1.0330
    
    
    
    0.8654
    
    
    
    0.5063
    
    
    
    0.1995
    
    
    
    0.0194
    
    
    
    0.0000
    
    
    
    0.0000
    
    
    
    0.0000
    
    
    
    0.0000
    
    
    
    0.0000
    
    
    
    0.0000
    
    
    
    0.0000
    
    
    
    0.0000
    
    
    
    0.0000
    
    
    
    0.0000
  13




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provided
   provided
 14




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Cash Amount
   Transaction Reference Property
  15




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provided, however,
     Global Preferred Stock Global Stock Legend
 provided
  Agent Members
 16




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Additional Shares
 Agent Members
 Board of Directors
 17




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Board Resolution
 Business Day
 Bylaws
 Capital Stock
 Cash Amount
 Cash Settlement Averaging Period
 Certificate of Incorporation
 Closing Sale Price
 Common Stock
 Common Stock Value Floor
 Company
 Conversion Date
 Conversion Price
 Conversion Rate
 Conversion Retraction Period
 Conversion Shares
 18




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Conversion Value
 Debt Obligations
 Delayed Dividends
 Depositary
 DGCL
 Distribution Date
 Dividend Payment Date
 Dividend Rate
 Dividend Record Date
 DTC
 Effective Date
 Exchange Act
 Expiration Time
 Fair Market Value
 Forced Conversion
 Forced Conversion Date
 Fundamental Change
 19




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provided however Publicly Traded Securities
 Fundamental Change Notice
 Fundamental Change Notice Date
 Fundamental Change Purchase Date
 Global Preferred Stock
 Global Stock Legend
 Holders
 Issue Date
 Junior Stock
 Liquidation Preference
 Market Value
 20




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Officer
 Officers Certificate
 Opinion of Counsel
 Parity Stock
 Person
 Purchased Shares
 Redemption Date
 Reference Property
 Securities Act
 Senior Stock
 Series B Preferred Stock
 Settlement Notice Period
 Stock Price
 Subsidiary
 Trading Day Disrupted Trading Day
 21




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Transaction
 Transfer Agent provided
 Triggering Event
 Volume-Weighted Average Price
 Voting Stock
 Miscellaneous
    22




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provided, however,
      23




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provided
  th
 [Signature Page Follows]
 24




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PETROQUEST ENERGY, INC.By:
    /s/ Michael O. AldridgeName:
    Michael O. AldridgeTitle:
    Executive Vice President,
Chief Financial Officer and Treasurer  25




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EXHIBIT A
 FORM OF NOTICE OF CONVERSION
 
    Date of Conversion:Applicable Conversion Rate:Number of Shares of Series B Preferred Stock:Number of Shares of Common Stock to be Issued(1):
 Signature:Name:Address(2):Fax No.:
 (1)
    
    The undersigned recognizes that the Company has the right,
subject to the terms of the Certificate of Designations, to make
payment in shares of Common Stock, cash or a combination of
shares and cash, at the Companys option.(2)
    
    Address where shares of Common Stock and any other payments or
certificates shall be sent by the Company.
 A-1




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EXHIBIT B
 FORM OF SERIES B PREFERRED STOCK CERTIFICATE
 
 PetroQuest Energy, Inc.
  CUSIP: 716748 207CERTIFICATE NUMBER 1
    
    SHARES
 PetroQuest Energy, Inc.
    B-1




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PETROQUEST ENERGY, INC.By:Name:Title:By:Name:Title:Dated:
 B-2




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as Transfer AgentBy:Name:Title: Authorized SignatoryDated:
 B-3




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X
  B-4