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METGASCO LTD Capital/Financing Update 2007

Mar 26, 2007

65313_rns_2007-03-26_783cd10e-1358-4c90-b650-beb4376868cb.pdf

Capital/Financing Update

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MARKET RELEASE

27 March 2007

Metgasco Limited

TRADING HALT

The securities of Metgasco Limited (the "Company") will be placed in pre-open at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in pre-open until the earlier of the commencement of normal trading on Thursday, 29 March 2007 or when the announcement is released to the market.

Security Code: MEL

Kim-Ly Nguven Senior Adviser, Issuers (Sydney)

27 March 2007

Kim-Ly Nguyen AUSTRALIAN SECURITIES EXCHANGE

TRADING HALT

The Directors of Metgasco Ltd (ASX Code: MEL) hereby request a trading halt of the Company's securities until Thursday 29 March 2007 at which time the Directors of the Company expect to make an announcement regarding a placement.

The Directors are not aware of any reason why a Trading Halt should not be granted.

Sincerely

Nick Geddes

Metgasco Limited ACN 088 196 383
Level 3, 32 Walker St North Sydney NSW 2060
Tel: (02) 9923 9100
Fax: (02) 9923 9199 Website: www.metgasco.com.au