METGASCO LTD — Capital/Financing Update 2012

Sep 23, 2012

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ASX RELEASE ASX Code: MEL

24 September 2012

RELIEF UNDER SECTION 708A (5) (e) OF THE CORPORATIONS ACT 2001

On 21 September 2012 Metgasco Limited (MEL) issued 51,000,000 fully paid ordinary shares in the Company to existing shareholders and new and sophisticated investors by way of a placement announced to the market on 17 September 2012.

The Company relies on case 1 in Section 708A(5) of the Corporations Act 2001 (Cth) (Corporations Act) in respect of the issue of the Securities and gives notice under paragraph 708A(5)(e) of the Corporations Act of the following details:

• the Company issued the Securities without disclosure to investors under Part 6D.2 of the Corporations Act;

• as at the date of this notice, the Company has complied with:

  •  the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

  •  Section 674 of the Corporations Act; and

• at the date of this notice, there is no information to be disclosed which is “excluded information” (as defined in Paragraphs 708A(7) and (8) of the Corporations Act) which would be reasonable for investors and their professional advisers to expect to find in a disclosure document.

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

For further information contact: Peter Henderson Sean Hooper Managing Director & CEO Chief Financial Officer

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