Quaterra Announces Increase and Clarification Re Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA, Oct 08 (MARKET WIRE) --
Quaterra Resources Inc. (TSX VENTURE: QTA)(NYSE Amex: QMM) (the
"Company") today announced that it proposed to increase its offering to
6,000,000 Units and further that the News Release disseminated on October
1, 2009, through inadvertence, contained inaccurate information. The
participation of Insiders in the announced Private Placement was not by
way of debt settlement or in satisfaction of indebtedness incurred by
reason of services rendered to the Company for which payment had been
deferred. Insiders are participating in the Placement to the extent of
1,019,450 Units but all Insiders are remitting payment in the same manner
as all other subscribers for Units.

On behalf of the Board of Directors,

Scott B. Hean, Chief Financial Officer, Quaterra Resources Inc.

Statements contained in this news release that are not historical facts
are forward-looking statements as the term is defined in the private
securities litigation reform act of 1995. Such forward-looking statements
are subject to risks and uncertainties which could cause actual results
to differ materially from estimated results. Quaterra relies upon
litigation protection for forward-looking statements.

This press release, required by applicable Canadian laws, is not for
distribution to U.S. news services or for dissemination in the United
States, and does not constitute an offer of the securities described
herein. These securities have not been registered under the United States
Securities Act of 1933, as amended, or any State securities laws, and may
not be offered or sold in the United States or to U.S. persons unless
registered or exempt therefrom.

Expanded information on the Company's projects is described on our
website at www.quaterra.com.

The TSX Venture Exchange and the NYSE
Amex have not reviewed and do not accept responsibility for the adequacy
or accuracy of the contents of this news release, which has been prepared
by management.

Contacts:
Quaterra Resources Inc.
Nicole Rizgalla
1-888-456-1112, 604-681-9059
corpdev@quaterra.com
www.quaterra.com

Copyright 2009, Market Wire, All rights reserved.

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