METGASCO LTD — Director's Dealing 2007

Aug 22, 2007

Appendix 3Y Change of Director’s Interest Notice

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 LTD

ABN 088 196 383

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	GLENDA McLOUGHLIN
Date of last notice	22 DECEMBER 2006

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	MAXA PTY LTD
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant
interest.
Date of change	a) 16 AUGUST 2007
	b) 17 AUGUST 2007
No. of securities held prior to change	2,255,913 FULLY	PAID	ORDINARY
	SHARES(HELD	BY	GLENDA
	MCLOUGHLIN)
	3,096,581 FULLY	PAID	ORDINARY
	SHARES (HELD BY MAXA		PTY LTD -
	DIRECTOR)
	482,352FULLY	PAID	ORDINARY
	SHARES(HELD	BY	WILLIAM
	HARTNELL – HUSBAND)
	4,480,575 OPTIONS	EXERCISABLE AT
	$0.30 UP TO 30	JUNE	2009 (Each
	option is to subscribe to one fully paid
	ordinary share)
Class	FULLY PAID ORDINARY SHARES

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Number acquired	17,008
Number disposed	NIL
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	a) $0.62 PER SHAREb) $0.70 PER SHARE
No. of securities held after change	2,255,913 FULLY PAID ORDINARYSHARES(HELDBYGLENDAMCLOUGHLIN)3,113,589 FULLY PAID ORDINARYSHARES (HELD BY MAXA PTY LTD -DIRECTOR)482,352FULLYPAIDORDINARYSHARESHELDBYWILLIAMHARTNELL – HUSBAND)4,480,575 OPTIONS EXERCISABLE AT$0.30 UP TO 30 JUNE 2009 (Eachoption is to subscribe to one fully paidordinary share)
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	ON MARKET PURCHASE

Part 2 – Change of director’s interests in contracts

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

Detail of contract	NA
Nature of interest
Name of registered holder(if issued securities)
Date of change
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract in relationto which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation
Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002