Acquisitions & Divestitures

Barbados-based special-purpose vehicle SGS Acquisition Co. Ltd. plans to purchase 100% of the shares outstanding of Quetzal Energy Inc. (QEG) from parent Quetzal Energy Ltd., Toronto, (Toronto Venture: QEI) for C$1.5 million in cash.

Along with cash consideration, Quetzal will receive a carried interest of 10% on the first two wells drilled by SGS Acquisition on the QEG properties. Quetzal will also retain an option to participate, by paying its share, in 10% of all other wells drilled by SGS on the QEG properties.

The principal assets of QEG are ...