Quetzal Energy Ltd.
TSX VENTURE : QEI

Quetzal Energy Ltd.

July 12, 2011 16:40 ET

Quetzal Energy Ltd. Waives Vote Deadline and Reminds Shareholders to Vote

CALGARY, ALBERTA--(Marketwire - July 12, 2011) - Quetzal Energy Ltd. (TSX VENTURE:QEI) ("Quetzal" or the "Company") has waived the July 15, 2011 deadline to vote in order to allow its holders of common shares of Quetzal ("Shareholders") more time to have their votes recorded with regard to the special items being proposed at the upcoming Annual and Special Meeting of Shareholders ("Meeting"). Quetzal announced on June 21, 2011 that it has postponed consideration of the special business items from its June 20, 2011 Meeting to 10:00 MST July 19, 2011 at the Fairmont Palliser Hotel in Calgary. Shareholders will have until the meeting to cast their votes.

SHAREHOLDERS ARE URGED TO VOTE TODAY ON THE ARRANGEMENT

Shareholders are being asked to approve among other items, an Arrangement with a new company, RealPetrol Ltd. ("RealPetrol"). Under the Arrangement, Shareholders will receive 1 new common share Quetzal share and one-fifteenth of a new common share in RealPetrol for each common share of Quetzal held.

REASONS AND BENEFITS OF THE ARRANGEMENT

The Company is proposing the spin out to allow Quetzal to focus on the oil and gas interests located in Colombia and by allowing RealPetrol to focus on the oil and gas property interests acquired from Quetzal in Guatemala. The spin out on geographical lines will enable each company to focus on its individual business plans, thereby enhancing overall valuation and liquidity.

Take advantage of this opportunity and vote FOR the proposed Arrangement. Your vote is important, regardless of the number of shares you own.

HOW TO VOTE

Shareholders are strongly encouraged to vote over the internet at www.voteproxyonline.com or by fax at 416-595-9593. Beneficial Shareholders who hold their shares through a bank, broker or other intermediary should follow the instructions found on their voting instruction form.

Quetzal Shareholder Questions

Shareholder questions about the information contained in the Management Information Circular or assistance with voting may be directed to Quetzal's Proxy Solicitor, Laurel Hill Advisory Group at 1-877-304-0211 (416-304-0211 collect) or via email at assistance@laurelhill.com.

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.

Contact Information