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	DAVID JOHNSON
Date of last notice	2 JULY 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 AND INDIRECT
Nature of indirect interest	DP INVESTMENTS <DEANP SUPER
(including registered holder)	FUND PTY LTD>
Note: Provide details of the circumstances giving rise to the relevant
interest.
Date of change	18 NOVEMBER 2008
	17 NOVEMBER 2008

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	9,942,167FULLYPAIDORDINARYSHARES (HELD BY DAVID JOHNSON);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, EXPIRING30/06/2012 (each option is to subscribe toone fully paid ordinary share);29,159 OPTIONS EXERCISABLE AT $1.00EACH, VESTING 30/06/2008, EXPIRING30/06/2012 (each option is to subscribe toone fully paid ordinary share);60,650 OPTIONS EXERCISABLE AT $1.10EACH, VESTING 30/06/2009, EXPIRING30/06/2012 (each option is to subscribe toone fully paid ordinary share);INDIRECT INTEREST150,000SHARESHELDBYDPINVESTMENTS <DEANP SUPER FUNDPTY LTD>
Class	FULLY PAID ORDINARY SHARESUNLISTED OPTIONS
Number acquired	75,000 TRANSFERRED FROM DIRECT TOINDIRECT INTEREST251,065 UNLISTED OPTIONS
Number disposed	75,000 TRANSFERRED FROM DIRECT TOINDIRECT INTEREST
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change

9,867,167FULLYPAIDORDINARYSHARES (HELD BY DAVID JOHNSON);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, EXPIRING30/06/2012 (each option is to subscribe toone fully paid ordinary share);29,159 OPTIONS EXERCISABLE AT $1.00EACH, VESTING 30/06/2008, EXPIRING30/06/2012 (each option is to subscribe toone fully paid ordinary share);60,650 OPTIONS EXERCISABLE AT $1.10EACH, VESTING 30/06/2009, EXPIRING30/06/2012 (each option is to subscribe toone fully paid ordinary share);46,830 OPTIONS EXERCISABLE AT $1.20EASH, VESTING 1/7/2008 (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 option is tosubscribe to one fully paid ordinary share);

• See chapter 19 for defined terms.

Appendix 3Y Page 3

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change CONT
	85,578 OPTIONS EXERCISABLE AT $1.60
	EASH, VESTING 1/7/2010 (each option is to
	subscribe to one fully paid ordinary share);
	INDIRECT INTEREST
	225,000 SHARES HELD BY DP
	INVESTMENTS <DEANP SUPER FUND
	PTY LTD>
Nature of change
Example: on-market trade, off-market trade, exercise of options, issue of	OFF MARKET TRANSFER TO DP
securities under dividend reinvestment plan, participation in buy-back	INVESTEMTNS <DEANP SUPER FUND
	PTY LTD>
	ISSUE OF UNLISTED OPTIONS
	APPROVED BY MEMBERS AT THE
	ANNUAL 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.

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

• See chapter 19 for defined terms.

Appendix 3Y Page 4

11/3/2002