METGASCO LTD — Board/Management Information 2015

Dec 22, 2015

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ASX / MEDIA RELEASE

ASX Code: MEL

23 December 2015

Board changes announced

Metgasco Limited advises changes to its Board of Directors, as follows:

• Given the change in the company’s Northern Rivers focus, Mr Len Gill has advised he will step down as Chairman with immediate effect and retire from the Board by end of February 2016. Mr Greg Short will assume the position of Chairman.

• Mr Philip Amery has joined the Board as Non-Executive Director. Mr. Amery is an experienced capital markets advisor and private banker. He holds BA and LLB degrees (Adelaide) and is a graduate of the Financial Asset Management and Engineering Program of the Swiss Finance Institute. The Board expects that Mr. Amery’s skills and experience will assist Metgasco in the pursuit of its new business and capital management objectives.

The changes related to Mr Gill and Mr Short are consistent with the presentations made at the 16 December Annual General Meeting.

The Board will continue to monitor its composition and skill set with a view to bringing on additional directors as required to match the Company’s needs.

Mr Short said “I wish to acknowledge Len Gill for his leadership during what has been a very challenging period for the company. I also welcome Mr Amery to the Board and look forward to identifying and securing attractive new opportunities for Metgasco.”

ENDS

For further information contact:

Peter J Henderson Sean Hooper Managing Director & CEO Chief Financial Officer

Metgasco Limited ACN 088 196 383 Level 11, 2 Elizabeth Plaza, North Sydney NSW 2060 Tel:+61 2 9923 9100 Fax: +61 2 9923 9199 Web: www.metgasco.com.au