Quetzal Energy Ltd.
TSX VENTURE : QEI

Quetzal Energy Ltd.

June 10, 2009 09:33 ET

Quetzal Energy Ltd. Announces New Officer Appointment

TORONTO, ONTARIO--(Marketwire - June 10, 2009) - Quetzal Energy Ltd. ("Quetzal") (TSX VENTURE:QEI) is pleased to announce that Ms. Allison Dewar has been appointed as Chief Financial Officer of Quetzal, effective as of June 10, 2009. Ms. Dewar graduated from the University of Calgary with a Bachelor of Commerce and earned her CA designation while employed by PricewaterhouseCoopers LLP in Calgary. Subsequently Ms. Dewar has been involved in the financial reporting, financial regulatory requirements and day-to-day finance operations of several Canadian and international oil and gas companies. The appointment of Ms. Dewar remains subject to TSX Venture Exchange approval. At this time, Quetzal also wishes to extend its best wishes to outgoing Interim Chief Financial Officer Wayne Fraser.

Quetzal also wishes to announce that it has today granted an aggregate of 2,900,000 stock options to certain of its directors, officers and employees, each such stock option entitling the holder thereof to acquire one common share of Quetzal at an exercise price of $0.20 for a period of five years. These options vest in four equal tranches every six months over an ensuing two year period.

NEITHER THE 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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