Santa Maria Petroleum Inc. Announces Second Quarter 2013 Results

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Santa Maria Petroleum Inc. (formerly Quetzal Energy Ltd.) (TSX VENTURE:SMQ)
announces its unaudited results for the three and six months ended June 30,
2013.


HIGHLIGHTS DURING THE THREE MONTHS ENDED JUNE 30, 2013



--  On June 7, 2013 Santa Maria announced that it had completed the sale of
    its 25% oil and gas interest in the Canaguaro Block to Petrominerales
    Ltd. ("Petrominerales") (TSX:PMG); the transaction was completed on June
    7, 2013. Petrominerales paid Santa Maria a total of $US6.0 million in
    cash for its 25 per cent private participating interest. Certain
    customary post-completion price adjustments will be completed and all
    vendor liabilities outstanding on that date will be paid by the end of
    September 2013. The transaction was first announced on May 6, 2013. 
--  On June 13, 2013 Santa Maria remitted $1,875,000 to the operators of
    Block 21 in Colombia as the third and final installment pursuant to the
    Amending Agreement to the original Participation Agreement for Block 21.
    The Company has satisfied its financial obligations in respect of this
    block and no further funding is required. 
--  On February 26, 2013 the operator of Block 21 commenced drilling the
    Calacho-1 well, the first exploration well on this block and reached
    total depth of 7,000 feet on March 2, 2013. On March 14, 2013 the
    operator of Block 21 commenced drilling the Rocamao well, the second
    exploration well on this block and reached total depth of 7,870 feet on
    March 27, 2013. Both of these wells were tested during the second
    quarter of 2013.
    
    The C7 formation in the Calacho No. 1 well was tested. During the test
    period the C7 formation produced a total of 5,857 barrels of fluid,
    consisting of 5,669 barrels of water and 188 barrels of 35 degree API
    oil. The maximum fluid production rate was approximately 1,450 barrels
    per day. The testing program was ended when the water cut reached 100%.
    With no further oil production, the operator made the decision to
    abandon the well.
    
    The C7 formation in the Rocamao No. 1 well was also tested. The C7
    formation produced 64 barrels of water in 3 hours at rates that
    fluctuated between 192 and 336 barrels of fluid per day. Total testing
    resulted in the production of 329 barrels of water with no oil produced
    and the decision was made by the operator to abandon the well. With no
    oil produced, the operator made the decision to abandon the well.
    
    With the abandonment of both the Calacho No. 1 well and the Rocamao No.
    1 well, Santa Maria Santa Maria informed the operator that it would not
    exercise its option to carry on with an interest in the block.

--  At the annual and special general meeting held in Toronto, Ontario on
    June 27, 2013 the shareholders approved the continued appointments of
    Mr. Ron MacMicken, Mr. Andrew DeFrancesco, Mr. Gerry Feldman, Mr. Steve
    VanSickle and Mr. Doug Manner to the board of directors. The
    shareholders also confirmed the appointment of MNP LLP as the Company's
    auditor.



Forward Looking Statements - Certain information set forth in this news release
may contain forward-looking statements that involve substantial known and
unknown risks and uncertainties. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond the control of
Quetzal, including, but not limited to the impact of general economic
conditions, industry conditions, volatility of commodity prices, risks
associated with oil and gas activities, currency fluctuations, dependence upon
regulatory approvals, the availability of future financing and exploration risk.
Readers are cautioned that the assumptions used in the preparation of such
information, although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be placed on
forward-looking statements.


Neither 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Santa Maria Petroleum Inc.
Ronald MacMicken
President & Chief Executive Officer
416-943-0021
[e-mail]
www.smpetroleum.com