Quetzal Energy Ltd.
TSX VENTURE : QEI

Quetzal Energy Ltd.

April 30, 2010 19:02 ET

Quetzal Energy Ltd.-News Release

TORONTO, ONTARIO--(Marketwire - April 30, 2010) - Quetzal Energy Ltd. ("Quetzal") (TSX VENTURE:QEI), is pleased to announce a 21% increase in net present value of its reserves over last year's filing. The disclosure and reports relating to reserves data and other petroleum and natural gas information required pursuant to National Instrument 51-101 have been filed for the year ended December 31, 2009. A copy of Quetzal's forms 51-101F1, 51-101F2 and 51-101F3 required pursuant to National Instrument 51-101 may be obtained from the Company's SEDAR profile at www.sedar.com.

The Net present Value before income tax (discounted 10%)of Quetzal's reserves increased to CAD$104,209,505 (USD$ 99,002,000) from CAD$ 86,399,934 (USD$ 82,082,400) from the prior year as reported in Quetzal's independent reserves evaluation dated March 15, 2010 for the year ended December 31, 2009.

The increase in net present value is primarily attributed to updated oil forecast pricing.

About Quetzal Energy Ltd.

Quetzal is a junior oil and gas company with properties in Guatemala and Colombia.

Neither TSX Venture Exchange nor its Regulation Services Provided (as that term is defined in the policies on the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.

Contact Information