TORONTO, ONTARIO--(Marketwire - Jan. 20, 2010) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Quetzal Energy Ltd. (TSX VENTURE:QEI) ("Quetzal" or the "Company") is pleased to announce the appointment of S. Brian Gieni as President of Quetzal, effective January 1, 2010.
Mr. Gieni was most recently the Senior Vice President, Country Manager (India) and Chief Financial Officer of Canoro Resources Ltd. Mr. Gieni was previously President and Chief Executive Officer of Ultima Energy Trust and Greyhawke Resources Ltd. Ultima was a public energy trust that the management revitalized in 2000 and successful in growing the trust from 1,800 to 10,000 barrels equivalent per day prior to being sold to Petrofund in 2004 for $550 million. Greyhawke was a private oil and gas exploration and development company with property interests in Canada. Mr. Gieni is well-experienced to head the operational and financial management teams to assist Bob Szczuczko, Quetzal's Chief Executive Officer to achieve the proposed growth in Colombia and Guatemala.
Mr. Gieni has 30 years of experience in the oil & gas industry, including senior financial and managerial positions with Canoro Resources Ltd., Ultima Energy Trust, Greyhawke Resources Ltd., PanCanadian Petroleum Ltd., Harvard International Resources, and Denison Mines Limited in Greece, Philippines and Spain. Mr. Gieni also spent several years in the international oil service industry with Bawden Drilling International primarily in the British North Sea, Iran and Indonesia. Mr. Gieni is a graduate of the University of Saskatchewan with a B.Comm in Accounting, Economics and Finance. He also is a Certified Management Accountant (CMA).
The appointment of Mr. Gieni remains subject to the approval of the TSX Venture Exchange.
Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Quetzal, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with oil and gas activities, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.