Quetzal Energy Ltd.
TSX VENTURE : QEI

Quetzal Energy Ltd.

September 21, 2010 09:00 ET

Quetzal Energy Ltd. Announces Appointment of Chief Financial Officer

CALGARY, ALBERTA--(Marketwire - Sept. 21, 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 Mr. Cameron Dow, C.A. as Chief Financial Officer (CFO), effective September 20, 2010.

Mr. Dow was most recently the Chief Financial Officer (CFO) and Financial Controller of Sea Dragon Resources Ltd. Mr. Dow was previously Interim CFO of Calvalley Petroleum Inc. and a Partner of Daunheimer & Dow LLP Chartered Accountants, in Calgary. Cameron is a graduate of Queen's University with an honours degree in economics. Mr. Dow is well-experienced to head the financial management teams to assist Bob Szczuczko, Quetzal's Chief Executive Officer and S. Brian Gieni, Quetzal's President to achieve the proposed growth in Colombia and Guatemala.

Cameron Dow replaces Mr. Wally Rudensky who is leaving to pursue other business opportunities. Quetzal would like to thank Wally Rudensky and his staff at DFF Management Ltd. for the excellent work completed during their tenure with Quetzal. The appointment of Mr. Dow remains subject to the approval of the TSX Venture Exchange.

Also, pursuant to the Quetzal Energy Ltd. Stock Option Plan, a total of 8,800,000 stock options will be granted to employees, consultants and officers of the Company, effective September 21, 2010, subject to regulatory approval. The issue price is $ 0.135 per share option and the options will expire on September 21, 2015.

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.

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