METGASCO LTD — Capital/Financing Update 2011

Jun 14, 2011

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MARKET RELEASE

15 June 2011

Metgasco Limited

TRADING HALT

The securities of Metgasco Limited (the “Company”) will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the earlier of the commencement of normal trading on Friday, 17 June 2011 or when the announcement is released to the market.

Security Code: MEL

Suzanna Dabski Senior Adviser, Listings (Sydney)

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15th June 2011

Ms Suzanna Dabski Australian Securities Exchange Bridge Street SYDNEY NSW 2000

Dear Ms Dabski

Trading Halt

This letter serves to confirm my request for an immediate Trading Halt in respect of Metgasco Limited’s quoted shares until Friday 17th June 2011 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.

Yours sincerely

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NJV Geddes Secretary

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

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