METGASCO LTD — Board/Management Information 2018

Feb 1, 2018

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ASX / MEDIA RELEASE ASX Code: MEL

2 February 2018

APPOINTMENT OF DR. ROBBERT WILLINK TO THE BOARD OF METGASCO

The Board of Metgasco is pleased to announce the appointment of Dr. Robbert Willink to the Board of Metgasco as independent Non-Executive Director, effective 5 February 2018.

Dr. Willink has 40 years of experience in the Oil & Gas industry. Following graduation with a first-class honours degree and the completion of his PhD in Geology, Dr. Willink embarked on a career in exploration that lead through various overseas assignments to executive appointments in leading Australian Oil & Gas companies. Dr. Willink has worked for companies such as Shell, Sagasco Resources, Boral Energy and Origin Energy. Among other executive roles, Dr. Willink held the position of Executive General Manager, Geoscience & Exploration New Ventures with Origin Energy from 2005 to 2011.

Dr. Willink has held executive and non-executive director positions in the past.

Since retirement from fulltime work, Dr. Willink has returned to lecturing and was recognised as PESA’s Distinguished Lecturer delivering a course on the subject of “Unlocking Hidden Potential in Mature Basins”.

The Chairman of Metgasco, Mr. Alexander Lang said: “I am very pleased to welcome Rob to Metgasco. Rob brings excellent technical skills to the Board. Rob’s expertise and track record of success will be invaluable not only in driving the Company’s existing assets such as our exploration blocks in the Cooper Basin and our farm-ins in the Gulf of Mexico but even more so in continuing identifying new opportunities in Australia and abroad.”

Mr. Lang also said: “In addition to his technical skills, Rob brings a profound understanding of successful commercialisation of assets to Metgasco. I am very excited that we are able to bring an industry expert of such calibre into the Company. I am very much looking forward working with Rob to find further opportunities for Metgasco.”

ENDS

About Metgasco:

Metgasco is presently pursuing new opportunities in the Oil & Gas sector. It holds an interest, via a secured production development funding facility, equity options and participation rights, in U.S Gulf of Mexico company Byron Energy Limited (ASX:BYE). Metgasco holds a 10% (non-operating) farmed-in interest in Byron’s Bivouac Peak Louisiana hydrocarbon project with a planned initial well testing a Gross prospective resource of 32,270 Mboe in addition to farm-in rights in relation to Byron’s Gulf of Mexico portfolio. Aside from its $6.0 million secured receivable noted above, Metgasco holds cash and cash equivalent investments of approximately A$5.8 million.

For further information contact: Metgasco Ltd ACN 088 196 383 Alexander Lang Level 12, 680 George Street, Sydney, NSW 2000 Executive Chairman Tel:+61 2 9923 9100 Fax: +61 2 9959 5387 info@metgasco.com.au Web: www.metgasco.com.au