6-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of March, 2017

Commission File Number: 0-55139

QUATERRA RESOURCES INC.
(Translation of registrant's name into English)

1100-1199 West Hastings Street
Vancouver, BC V6E 3T5 Canada
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

[ x ] Form 20-F   [   ] Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): []

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): []

SUBMITTED HEREWITH

Exhibits

99.1 News Release dated March 20, 2017

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	QUATERRA RESOURCES INC.
	(Registrant)
Date: March 20, 2017	By:	/s/ Lei Wang
		Lei Wang
	Title:	Chief Financial Officer

EX-99.1

March 20, 2017
	QTRRF: OTCQX International
	QTA: TSX VENTURE
	NR-02-17

QUATERRA CONVERTS PROMISSORY NOTES TO SHARES

VANCOUVER, B.C. — Quaterra Resources Inc. (“Quaterra” or the “Company”) announces that it will convert 500 non-transferable convertible redeemable US$1,000 principal amount promissory notes (the “Notes”) issued on July 2, 2014 into 6,609,000 common shares (“Principal Shares”). The Company’s shares have achieved or exceeded a closing price of C$0.12 for a 10 consecutive trading day period on the TSX Venture Exchange (beginning February 14, 2017 and ending February 28, 2017) and, in accordance with the terms of the Notes, the Notes are now automatically deemed to have been redeemed and converted to shares at a rate of C$0.10 per share.

The Company has received approval of the TSX Venture Exchange to convert the interest portion of US$79,972.60 due on some of the Notes into 880,898 shares (“Interest Shares”). The remaining interest of US$53,315.07 will be paid in cash.

With the issuance of 7,489,898 Principal and Interest Shares, the Company extinguishes US$579,972.60 of indebtedness.

About Quaterra Resources Inc.

Quaterra Resources Inc. (OTCQX: QTRRF; TSX-V: QTA) is a junior copper exploration and development company with the primary objective to advance its U.S. subsidiary’s copper projects in the Yerington District, Nevada.

On behalf of the Board of Directors,
Thomas Patton, Chairman and Chief Executive Officer
Quaterra Resources Inc.

For more information please contact:
Gerald Prosalendis, President and COO
Quaterra Resources Inc.
604-641-2780

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 offered have not been and will not be 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.