Quetzal Appoints New Board Member

Quetzal announced the appointment of Andrew DeFrancesco ("Andy") to the Board of Directors effective July 7, 2011.

Mr. DeFrancesco ("Andy") is Chairman & CEO of Delavaco Capital Inc, a private equity and merchant banking group with a primary focus on natural resources. He is also Founder, Chairman and CEO of Colcan Energy, Executive Chairman of Tolima Gold Corp a Colombian gold company, Co-Founder and Former Chairman & CEO of Colombian oil companies APO Energy and P1 Energy which combined in 2010 in a merger valued at approximately $445 million. Andy was also Founder and Executive Chairman of Delavaco Energy a Colombian oil company which was sold to Allange Energy in 2009 for $100 million.

Bob Szczuczko, Quetzal Chairman and CEO stated "Andy and I were a very good team at Delavaco Energy and I look forward to working closely with him again; in his formal role as a director, Andy will provide Quetzal with strong capital markets guidance to fully exploit the significant underlying value in Quetzal."

Mr. Cameron Dow has resigned as the CFO of Quetzal effective immediately. The Board of Directors would like to thank Mr. Dow for his contributions and wish him well in his future endeavors.

Mr. John Martin CA has joined Quetzal as CFO effective July 7, 2011. John was the founding and senior partner of EvansMartin LLP, a midsize firm of Chartered Accountants. John has many years experience in finance, merger and acquisition activities, including assisting clients in establishing and integrating operations in the U.S., Europe and for the past two years, primarily in the oil and gas industries in Colombia. Through his role as CFO of APO Energy Inc. and other Colombian assignments, John has developed extensive banking, legal and accounting contacts in Colombia. John has been a CA for 37 years and is a graduate from the University of Western Ontario.