METGASCO LTD — Director's Dealing 2006

Jun 18, 2006

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity Metgasco Limited
ACN 088196 383

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Richard O Wood
Date of last notice	22/09/2005

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	June 15 2006
No. of securities held prior to change	700,090 (Voluntary escrow until Dec 23 2006) 1,120,114 Options
Class	Ordinary
Number acquired	20,000
Number disposed	Zero
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$5,400
No. of securities held after change	720,090
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On market trade

⁺ See chapter 19 for defined terms.

$+$ See chapter 19 for defined terms.