METGASCO LTD — Director's Dealing 2008

Nov 23, 2008

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	12 MAY 2008

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 relevantinterest.
Date of change	17 NOVEMBER 2008

• See chapter 19 for defined terms.

Appendix 3Y Page 1

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	2,263,056FULLYPAIDORDINARYSHARES(HELDBYGLENDAMCLOUGHLIN)3,133,589FULLYPAIDORDINARYSHARES (HELD BY MAXA PTY LTD –DIRECTOR)489,495 FULLY PAID ORDINARY SHARESHELDBYWILLIAMHARTNELL–HUSBAND)4,480,575 OPTIONS EXERCISABLE AT$0.30 EACH AND EXPIRING 30/06/2009(Each option is to subscribe to one fully paidordinary share)70,000 OPTIONS EXERCISABLE AT $0.35EACH AND EXPIRING 01/01//2012 (eachoption is to subscribe to one fully paidordinary share);70,000 OPTIONS EXERCISABLE AT $0.40EACH AND EXPIRING 01/01/2012 (eachoption is to subscribe to one fully paidordinary share);110,000 OPTIONS EXERCISABLE AT $0.50EACH AND EXPIRING 01/01/2012 (eachoption is to subscribe to one fully paidordinary share);92,358 OPTIONS EXERCISABLE AT $0.90EACH AND EXPIRING 30/06/2012 (eachoption is to subscribe to one fully paidordinary share);27,987 OPTIONS EXERCISABLE AT $0.90EACH, VESTING 30/06/2008, EXPIRING30/6/2012 (each option is to subscribe to onefully paid ordinary share);29,159 OPTIONS EXERCISABLE AT $1.00EACH, VESTING 30/06/2008, EXPIRING30/6/2012 (each option is to subscribe to onefully paid ordinary share);60,650 OPTIONS EXERCISABLE AT $1.10EACH, VESTING 30/06/2009, EXPIRING30/6/2012 (each option is to subscribe to onefully paid ordinary share).
Class	UNLISTED OPTIONS
Number acquired	251,065
Number disposed	NIL
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	N/A

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change

2,263,056FULLYPAIDORDINARYSHARES(HELDBYGLENDAMCLOUGHLIN)3,133,589FULLYPAIDORDINARYSHARES (HELD BY MAXA PTY LTD –DIRECTOR)489,495 FULLY PAID ORDINARY SHARESHELDBYWILLIAMHARTNELL–HUSBAND)4,480,575 OPTIONS EXERCISABLE AT$0.30 EACH AND EXPIRING 30/06/2009(Each option is to subscribe to one fully paidordinary share)70,000 OPTIONS EXERCISABLE AT $0.35EACH AND EXPIRING 01/01//2012 (eachoption is to subscribe to one fully paidordinary share);70,000 OPTIONS EXERCISABLE AT $0.40EACH AND EXPIRING 01/01/2012 (eachoption is to subscribe to one fully paidordinary share);110,000 OPTIONS EXERCISABLE AT $0.50EACH AND EXPIRING 01/01/2012 (eachoption is to subscribe to one fully paidordinary share);92,358 OPTIONS EXERCISABLE AT $0.90EACH AND EXPIRING 30/06/2012 (eachoption is to subscribe to one fully paidordinary share);27,987 OPTIONS EXERCISABLE AT $0.90EACH, VESTING 30/06/2008, EXPIRING30/6/2012 (each option is to subscribe to onefully paid ordinary share);29,159 OPTIONS EXERCISABLE AT $1.00EACH, VESTING 30/06/2008, EXPIRING30/6/2012 (each option is to subscribe to onefully paid ordinary share);60,650 OPTIONS EXERCISABLE AT $1.10EACH, VESTING 30/06/2009, EXPIRING30/6/2012 (each option is to subscribe to onefully paid ordinary share).46,830 OPTIONS EXERCISABLE AT $1.20EASH, VESTING 1/7/2008 (each option is tosubscribe to one fully paid ordinary share);

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change CONT	No. of securities held after change CONT	77,810 OPTIONS EXERCISABLE AT $1.20EASH, VESTING 1/7/2009 (each option is tosubscribe to one fully paid ordinary share)40,847 OPTIONS EXERCISABLE AT $1.40EASH, VESTING 1/7/2009 (each options isto subscribe to one fully paid ordinary share)85,578 OPTIONS EXERCISABLE AT $1.60EASH, VESTING 1/7/2010 (each option is tosubscribe to one fully paid ordinary share)	77,810 OPTIONS EXERCISABLE AT $1.20EASH, VESTING 1/7/2009 (each option is tosubscribe to one fully paid ordinary share)40,847 OPTIONS EXERCISABLE AT $1.40EASH, VESTING 1/7/2009 (each options isto subscribe to one fully paid ordinary share)85,578 OPTIONS EXERCISABLE AT $1.60EASH, VESTING 1/7/2010 (each option is tosubscribe to one fully paid ordinary share)
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	e of change	ISSUEOFUNLISTEDOPTIONS
	e: on-market trade, off-market trade, exercise of options, issue ofs under dividend reinvestment plan, participation in buy-back	APPROVED BY MEMBERS AT THEANNUAL GENERAL MEETING

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.

	e case of a company, interests which come within paragrapin this part.	e case of a company, interests which come within paragrapin this part.	(ii) of the definition of notifiable interest of a director should be	(ii) of the definition of notifiable interest of a director should be	(ii) of the definition of notifiable interest of a director should be
Detai	l of contract	N/A
Nature of interest
Name of registered holder(if issued securities)
Date of change
No. aintereNote: Dto whic	nd class of securities to which
	st related prior to changeetails are only required for a contract in relationh 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.

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