Quaterra Resources Inc.

Quaterra Resources Inc.

September 29, 2005 11:39 ET

Quaterra Receives Exchange Approval/Closes $2.275 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 29, 2005) - Quaterra Resources Inc. (TSX VENTURE:QTA) reported today that the company has received TSX Venture Exchange approval and has now closed the previously reported $2.275 million non-brokered private placement (July 22/2005) and (August 25/2005) of 6,500,000 common shares at a price of $0.35 per unit. All the common shares issued pursuant to this unit offering, including share purchase warrants and warrants issued as finders fees, carry a legend restricting the shares from trading for a period of four months to January 26th, 2006.

On behalf of the Board of Directors,

Thomas Patton, President

Quaterra Resources Inc.

We seek safe harbour.

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