METGASCO LTD — Capital/Financing Update 2021

Nov 30, 2021

==> picture [261 x 37] intentionally omitted <==

ASX / MEDIA RELEASE

ASX Code: MEL

01 December 2021

Upcoming Expiry of Listed Options (MELOA)

Metgasco Ltd ( ASX:MEL ) (“ Metgasco ” or ‘’Company’’ ) advises the upcoming expiry of the listed options issued by the Company (ASX:MELOA) ( Options ).

Notice of upcoming expiry of Options

1. The expiry date of the Options is 31 December 2021 ( Expiry Date ).

2. There are 182,457,424 Options on issue.

3. The exercise price is $0.04 per Option.

4. The due date for receipt of cleared payment of the exercise price is the Expiry Date.

5. Options which are not exercised prior to the Expiry Date will lapse and have no further rights or entitlements.

6. Quotation of the Options on the Australia Securities Exchange (ASX) will end at the close of trading on 23 December 2021.

7. The latest available closing price of the ordinary shares in Metgasco prior to the date of this letter was $0.03.

8. The highest and lowest market price of Metgasco ordinary shares on ASX during the 3 months immediately preceding the date of this letter and the respective dates of those sales were:

   • (i) Highest: $0.035 on 8/11/2021.

   • (ii) Lowest: $0.023 on 22/09/2021.

This ASX announcement was approved and authorised for release by the Board.

For further information contact:

Philip Amery Chair + 61 402 091 180 philip.amery@metgasco.com.au

Metgasco Ltd ACN 088 196 383 Level 2, 30 Richardson Street, West Perth, WA 6005 Tel:+61 8 6245 0060 info@metgasco.com.au www.metgasco.com.au

Ken Aitken Managing Director +61 8 6245 0062 ken.aitken@metgasco.com.au