METGASCO LTD — Capital/Financing Update 2009

Mar 15, 2009

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MARKET RELEASE

16 March 2009

Metgasco Limited

SUSPENSION FROM OFFICIAL QUOTATION

The securities of Metgasco Limited (the “Company”) will be suspended from quotation immediately, at the request of the Company, pending release of an announcement regarding a placement.

Security Code: MEL

Marta Kielich Adviser, Issuers (Sydney)

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16[th] March 2009

Ms Marta Kielich Australian Securities Exchange Bridge Street SYDNEY NSW 2000

Dear Ms Kielich

Voluntary Suspension

This letter serves to confirm my request for Metgasco Limited’s quoted shares to be placed in voluntary suspension until Tuesday 17[th] March 2009 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 Voluntary Suspension should not be granted.

Yours sincerely

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NJV Geddes Secretary

For further information contact: David Johnson Glenda McLoughlin Managing Director Chief Financial Officer

Metgasco Limited ACN 088 196 383 Level 9, 77 Pacific Highway North Sydney NSW 2060 Tel: (02) 9923 9100 Fax: (02) 9923 9199 Website: www.metgasco.com.au

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