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 D	irector	DAVID JOHNSON
Date of la	st notice	5MAY 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

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change

10,229,667FULLYPAIDORDINARYSHARES (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);85,578 OPTIONS EXERCISABLE AT $1.60EASH, VESTING 1/7/2010 (each option is tosubscribe to one fully paid ordinary share);INDIRECT INTEREST259,688SHARESHELDBYDPINVESTMENTS <DEANP SUPER FUNDPTY LTD>

See chapter 19 for defined terms

+ See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Class	ORDINARY FULLY PAID
Number acquired	A) 4,480,575
Number disposed	B) 2,600,000
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	A) $0.29 PER SHAREB)$0.45 PER SHARE

• See chapter 19 for defined terms.

Appendix 3Y Page 3

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change

12,110,242FULLYPAIDORDINARYSHARES (HELD BY DAVID JOHNSON);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);85,578 OPTIONS EXERCISABLE AT $1.60EASH, VESTING 1/7/2010 (each option is tosubscribe to one fully paid ordinary share);INDIRECT INTEREST259,688SHARESHELDBYDPINVESTMENTS <DEANP SUPER FUNDPTY LTD>

• See chapter 19 for defined terms.

Appendix 3Y Page 4

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Nature of change A) EXERCISE OF OPTIONS Example: on-market trade, off-market trade, exercise of options, issue of B) ON & OFF MARKET TRADE securities under dividend reinvestment plan, participation in buy-back

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 contractNature of interestName of registered holder(if issued securities)Date of change	N/A
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 5

11/3/2002