Quetzal Energy Ltd.
TSX VENTURE : QEI

Quetzal Energy Ltd.

August 05, 2011 16:00 ET

Quetzal Energy Ltd. Announces the Resignation of Robert Szczuczko as Chief Executive Officer and a Director and Appoints New Interim CEO and Executive Chairman

CALGARY, ALBERTA--(Marketwire - Aug. 5, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Quetzal Energy Ltd. ("Quetzal" or the "Corporation") (TSX VENTURE:QEI) announces the resignation of Robert Szczuczko as Chief Executive Officer and a director of the Corporation effective immediately. Mr. Szczuczko has resigned in order to pursue other business interests. Quetzal thanks Mr. Szczuczko for his work on behalf of the Corporation and wishes him the best in his future endeavors.

Effective immediately, Mr. Ron MacMicken has been appointed Quetzal's new interim President and Chief Executive Officer, as well as a director of the Corporation. Mr. MacMicken is currently a director of ColCan Energy Corp., a private oil and gas exploration company operating in Colombia, and a director of Tolima Gold, a junior Colombian gold exploration company. Mr. MacMicken is also currently serving as interim President & Chief Executive Officer of 3P International Energy Corp. (TSXV:DOH), a junior oil and gas exploration company with operations in Ukraine. Previously, Mr. MacMicken was a Managing Director of Investment Banking at Canaccord Genuity Corp. and Director, Investment Banking at Cormark Securities Inc. with a focus on international oil and gas. In addition, he has 13 years of capital markets and advisory experience in Toronto, London and Calgary with BMO Nesbitt Burns, Credit Suisse First Boston and National Bank Financial covering various sectors and financial products.

Quetzal is also pleased to announce that existing Director, Andrew DeFrancesco, has assumed the role of Executive Chairman of Quetzal.

About Quetzal

Quetzal is a development stage independent oil and gas company engaged in exploration, development, and production activities in Guatemala and Colombia. Quetzal is actively involved in identifying and developing commercial opportunities for the monetization of hydrocarbon resources in both countries.

Caution to Reader

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States or to any U.S. person except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

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