METGASCO LTD — Director's Dealing 2009

Dec 2, 2009

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	3 JULY 2009

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	26 NOVEMBER 2009

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change

12,110,242 FULLY PAID ORDINARY SHARES (HELD BY DAVID JOHNSON); 70,000 OPTIONS EXERCISABLE AT $0.35 EACH AND EXPIRING 01/01/2012 (each option is to subscribe to one fully paid ordinary share); 70,000 OPTIONS EXERCISABLE AT $0.40 EACH AND EXPIRING 01/01/2012 (each option is to subscribe to one fully paid ordinary share); 110,000 OPTIONS EXERCISABLE AT $0.50 EACH AND EXPIRING 01/01/2012 (each option is to subscribe to one fully paid ordinary share); 92,358 OPTIONS EXERCISABLE AT $0.90 EACH AND EXPIRING 30/06/2012 (each option is to subscribe to one fully paid ordinary share); 27,987 OPTIONS EXERCISABLE AT $0.90 EACH, VESTING 30/06/2008, EXPIRING 30/06/2012 (each option is to subscribe to one fully paid ordinary share); 29,159 OPTIONS EXERCISABLE AT $1.00 EACH, VESTING 30/06/2008, EXPIRING 30/06/2012 (each option is to subscribe to one fully paid ordinary share); 60,650 OPTIONS EXERCISABLE AT $1.10 EACH, VESTING 30/06/2009, EXPIRING 30/06/2012 (each option is to subscribe to one fully paid ordinary share); 46,830 OPTIONS EXERCISABLE AT $1.20 EASH, VESTING 1/7/2008 (each option is to subscribe to one fully paid ordinary share); 77,810 OPTIONS EXERCISABLE AT $1.20 EASH, VESTING 1/7/2009 (each option is to subscribe to one fully paid ordinary share); 40,847 OPTIONS EXERCISABLE AT $1.40 EASH, VESTING 1/7/2009 (each option is to subscribe to one fully paid ordinary share); 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 259,688 SHARES HELD BY DP INVESTMENTS PTY LTD>

Class

UNLISTED OPTIONS

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number acquired	555,556 UNLISTED OPTIONS
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated ~~valuation~~	NIL ISSUE PRICE

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change

12,110,242 FULLY PAID ORDINARY SHARES (HELD BY DAVID JOHNSON); 70,000 OPTIONS EXERCISABLE AT $0.3438 EACH AND EXPIRING 01/01/2012 (each option is to subscribe to one fully paid ordinary share); 70,000 OPTIONS EXERCISABLE AT $0.3938 EACH AND EXPIRING 01/01/2012 (each option is to subscribe to one fully paid ordinary share); 110,000 OPTIONS EXERCISABLE AT $0.4938 EACH AND EXPIRING 01/01/2012 (each option is to subscribe to one fully paid ordinary share); 92,358 OPTIONS EXERCISABLE AT $0.8938 EACH AND EXPIRING 30/06/2012 (each option is to subscribe to one fully paid ordinary share); 27,987 OPTIONS EXERCISABLE AT $0.8938 EACH, VESTING 30/06/2008, EXPIRING 30/06/2012 (each option is to subscribe to one fully paid ordinary share); 29,159 OPTIONS EXERCISABLE AT $0.9938 EACH, VESTING 30/06/2008, EXPIRING 30/06/2012 (each option is to subscribe to one fully paid ordinary share); 60,650 OPTIONS EXERCISABLE AT $1.0938 EACH, VESTING 30/06/2009, EXPIRING 30/06/2012 (each option is to subscribe to one fully paid ordinary share); 46,830 OPTIONS EXERCISABLE AT $1.1938 EASH, VESTING 1/7/2008 (each option is to subscribe to one fully paid ordinary share); 77,810 OPTIONS EXERCISABLE AT $1.1938 EASH, VESTING 1/7/2009 (each option is to subscribe to one fully paid ordinary share); 40,847 OPTIONS EXERCISABLE AT $1.3938 EASH, VESTING 1/7/2009 (each option is to subscribe to one fully paid ordinary share); 85,578 OPTIONS EXERCISABLE AT $1.5938 EASH, VESTING 1/7/2010 (each option is to subscribe to one fully paid ordinary share); 277,778 OPTIONS EXERCISABLE AT $0.50 EACH, VESTING 1/9/2011 AND THE COMPANY’S SHARE PRICE REACHING $0.60 (each option is to subscribe to one fully paid ordinary share); 277,778 OPTIONS EXERCISABLE AT $0.50 EACH, VESTING 1/9/2012 AND THE COMPANY’S SHARE PRICE REACHING $0.70 (each option is to subscribe to one fully paid ordinary share); INDIRECT INTEREST 259,688 SHARES HELD BY DP INVESTMENTS = CONSEQUENT UPON THE APRIL 2009 RIGHTS ISSUE THE EXERCISE PRICE OF OUTSTANDING OPTIONS DECREASED BY A UNIFORM 0.0062 (ROUNDED TO 4 DECIMAL PLACES) TO THE PRICES SHOWN ABOVE

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	ISSUE OF UNLISTED OPTIONS APPROVED BY SHAREHOLDERS AT THE ANNUAL GENERAL MEETING HELD ON 26 NOVEMBER 2009

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.

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