METGASCO LTD — Capital/Financing Update 2009

Apr 13, 2009

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9 April 2009

Rights Offer Timetable

For the sake of good order we advise that the timetable for the current Rights Offer is as follows:

Friday	24thApril	Rights Offer Closes 5.00pm
Monday	27thApril	Deferred settlement trading commences on ASX
Wednesday	29thApril	Notify ASX of shortfall in Rights Offer
Thursday	30thApril	Last day of deferred settlement trading
		Allotment of Rights Issue shares
Friday	1stMay	Normal T + 3 trading of Rights Issue shares expected tocommence
Monday	4thMay	Despatch holding statements

Please call the Metgasco shareholder information line on 1300 755 127, or from outside Australia, + 61 3 9415 4218 if you have any enquiries from 8.30am to 5.00pm Monday to Friday during the Rights Offer period or email queries@computershare.com.au.

Metgasco’s website address is www.metgasco.com.au

NJV Geddes Secretary