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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 0pvlni8LAoslNDqR32PWag==

<SEC-DOCUMENT>0001116502-09-000482.txt : 20090330
<SEC-HEADER>0001116502-09-000482.hdr.sgml : 20090330
<ACCEPTANCE-DATETIME>20090330192936
ACCESSION NUMBER:		0001116502-09-000482
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080930
FILED AS OF DATE:		20090330
DATE AS OF CHANGE:		20090330

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MATTE MICHAEL D
		CENTRAL INDEX KEY:			0001210191

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33105
		FILM NUMBER:		09715628

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			QUEPASA CORP
		CENTRAL INDEX KEY:			0001078099
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING [7310]
		IRS NUMBER:				860879433
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		224 DATURA STREET
		STREET 2:		SUITE 1100
		CITY:			WEST PALM BEACH
		STATE:			FL
		ZIP:			33401
		BUSINESS PHONE:		561-491-4181

	MAIL ADDRESS:	
		STREET 1:		224 DATURA STREET
		STREET 2:		SUITE 1100
		CITY:			WEST PALM BEACH
		STATE:			FL
		ZIP:			33401

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	QUEPASA COM INC
		DATE OF NAME CHANGE:	19990310
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>matte4_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-09-30</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001078099</issuerCik>
        <issuerName>QUEPASA CORP</issuerName>
        <issuerTradingSymbol>QPSA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001210191</rptOwnerCik>
            <rptOwnerName>MATTE MICHAEL D</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>224 DATURA STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1100</rptOwnerStreet2>
            <rptOwnerCity>WEST PALM BEACH</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>33401</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Financial Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.07</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-09-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>77500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-09-30</value>
            </exerciseDate>
            <expirationDate>
                <value>2018-07-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>77500</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>77500</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">As previously reported on a Form 4 filed July 24, 2008, the Reporting Person was granted stock options to purchase 232,500
 shares of common stock.  The options vest based on Quepasa's satisfaction of certain performance criteria.  The performance
 criteria for the quarter ended September 30, 2008 were met, resulting in the vesting of 77,500 of the options.</footnote>
        <footnote id="F2">Not applicable.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Michael Matte</signatureName>
        <signatureDate>2009-03-30</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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