Quaterra Appoints New Chief Financial Officer

Quaterra Resources
2006-03-27 News Release

Quaterra Resources Inc. today reported the appointment of Scott B. Hean, MBA., as Chief Financial Officer (CFO) of the Company, pursuant to the terms of the Company’s engagement of Mr. Hean’s company, Atherton Enterprises Ltd. (“Atherton”).Born and raised in Vancouver, Mr. Hean graduated from Simon Fraser University in 1973 and from the Ivey School of Business, London, Ontario, in 1975. He has held senior management and executive positions with J.P. Morgan of New York , primarily financing junior oil and gas companies and as Senior Vice President and Managing Director at Bank of Montreal, where he was responsible for financing in the natural resources sectors in North America. Recently, he has served as Chairman and CFO of Plastics Solutions, a private company marketing biodegradable plastics, and he continues to be President of his own consulting practice. He has served on numerous not-for-profit Boards, including Outward Bound and B. C. Children’s Hospital and currently serves as Chairman of the Finance Committee, for the Bill Reid Foundation.

In the engagement of Atherton, the Company has agreed, subject to regulatory approval, to a compensation package which includes stock options entitling the purchase of up to 125,000 shares of the Company for a period of five years at a price of $1.04 per share, subject to a staged vesting formula over an eighteen month period.


On behalf of the Board of Directors,

“Thomas Patton”
Thomas Patton, President
Quaterra Resources Inc.

Contact Jay Oness at 1-888-456-1112, 604-681-9059 or email: corpdev@mnxltd.com

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.

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