METGASCO LTD — Director's Dealing 2009

Jul 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	GLENDA McLOUGHLIN
Date of last notice	5 MAY 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	30 JUNE 2009

• 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

11/3/2002 2,547,243 FULLY PAID ORDINARY SHARES (HELD BY GLENDA MCLOUGHLIN) 3,288,215 FULLY PAID ORDINARY SHARES (HELD BY MAXA PTY LTD – DIRECTOR) 550,682 FULLY PAID ORDINARY SHARES HELD BY WILLIAM HARTNELL – HUSBAND) 4,480,575 OPTIONS EXERCISABLE AT $0.30 EACH AND EXPIRING 30/06/2009 (Each option is to subscribe to one fully paid ordinary share) 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 30/6/2012 (each option is to subscribe to one fully paid ordinary share); 29,159 OPTIONS EXERCISABLE AT $1.00 EACH, VESTING 30/06/2008, EXPIRING 30/6/2012 (each option is to subscribe to one fully paid ordinary share); 60,650 OPTIONS EXERCISABLE AT $1.10 EACH, VESTING 30/06/2009, EXPIRING 30/6/2012 (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 EACH, VESTING 1/7/2009 (each option is to subscribe to one fully paid ordinary share) 40,847 OPTIONS EXERCISABLE AT $1.40 EACH, VESTING 1/7/2009 (each options is to subscribe to one fully paid ordinary share) 85,578 OPTIONS EXERCISABLE AT $1.60 EACH, VESTING 1/7/2010 (each option is to subscribe to one fully paid ordinary share)

+ See chapter 19 for defined terms. Appendix 3Y Page 2

• See chapter 19 for defined terms. Appendix 3Y Page 2

Appendix 3Y Change of Director’s Interest Notice

Class	FULLY PAID ORDINARY SHARES
Number acquired	A) 4,480,575
Number disposed	B) 750,000
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	A) $0.29 B) $0.45

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change

6,277,818 FULLY PAID ORDINARY SHARES (HELD BY GLENDA MCLOUGHLIN) 3,288,215 FULLY PAID ORDINARY SHARES (HELD BY MAXA PTY LTD – DIRECTOR) 550,682 FULLY PAID ORDINARY SHARES HELD BY WILLIAM HARTNELL – HUSBAND) 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 30/6/2012 (each option is to subscribe to one fully paid ordinary share); 29,159 OPTIONS EXERCISABLE AT $1.00 EACH, VESTING 30/06/2008, EXPIRING 30/6/2012 (each option is to subscribe to one fully paid ordinary share); 60,650 OPTIONS EXERCISABLE AT $1.10 EACH, VESTING 30/06/2009, EXPIRING 30/6/2012 (each option is to subscribe to one fully paid ordinary share). 46,830 OPTIONS EXERCISABLE AT $1.20 EACH, VESTING 1/7/2008 (each option is to subscribe to one fully paid ordinary share); 77,810 OPTIONS EXERCISABLE AT $1.20 EACH, VESTING 1/7/2009 (each option is to subscribe to one fully paid ordinary share) 40,847 OPTIONS EXERCISABLE AT $1.40 EACH, VESTING 1/7/2009 (each options is to subscribe to one fully paid ordinary share) 85,578 OPTIONS EXERCISABLE AT $1.60 EACH, VESTING 1/7/2010 (each option is to subscribe to one fully paid ordinary share)

• 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	A) EXERCISE OF OPTIONS B) ON MARKET SALE

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 5

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