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METGASCO LTD Capital/Financing Update 2011

Aug 4, 2011

65313_rns_2011-08-04_1c8de89b-9e4e-4c82-87ad-521dbde708c0.pdf

Capital/Financing Update

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ASX / MEDIA RELEASE

ASX Code: MEL

5 August 2011

SHARE PURCHASE PLAN ALLOTMENT

Metgasco advises that 58,723,231 new fully paid ordinary shares in the Company have been issued and allotted to shareholders under the recent Share Purchase Plan.

Holding statements will be dispatched to shareholders today.

The Company has raised a total of $15.3 Million through the Share Purchase Plan which will be used to: progress the Company’s gas commercialisation plans, conduct exploration and appraisal activities and working capital.

For further information contact: Peter Henderson 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