METGASCO LTD — Director's Dealing 2009

May 4, 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	24 NOVEMBER 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 AND INDIRECT
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	DIRECTOR OF MAXA PTY LTD
Date of change	29 APRIL 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	o. of securities held prior to c	hange			2,263,056 FUL(HELD BY GLE3,133,589 FUL(HELD BY MAX489,495 FULLHELD BY WILLI4,480,575 OPT	LY PAID ORDINARNDA MCLOUGHLIN)LY PAID ORDINARA PTY LTD – DIRECTY PAID ORDINARAM HARTNELL – HUIONS EXERCISABL	Y SHARESY SHARESOR)Y SHARESSBAND)E AT $0.30
					EACH AND EXPto subscribe to o70,000 OPTIOEACH AND EXis to subscribe t70,000 OPTIOEACH AND EXto subscribe to o110,000 OPTIEACH AND EXto subscribe to o92,358 OPTIOEACH AND EXto subscribe to o27,987 OPTIOEACH,VEST30/6/2012 (eachpaid ordinary sh29,159 OPTIOEACH,VEST30/6/2012 (eachpaid ordinary sh	IRING 30/06/2009 (Ene fully paid ordinaryNS EXERCISABLEPIRING 01/01//2012o one fully paid ordinarNS EXERCISABLEPIRING 01/01/2012 (ene fully paid ordinaryONS EXERCISABLEPIRING 01/01/2012 (ene fully paid ordinaryNS EXERCISABLEPIRING 30/06/2012 (ene fully paid ordinaryNS EXERCISABLEING30/06/2008,option is to subscribeare);NS EXERCISABLEING30/06/2008,option is to subscribeare);	ach option isshare)AT $0.35(each optiony share);AT $0.40ach option isshare);AT $0.50ach option isshare);AT $0.90ach option isshare);AT $0.90EXPIRINGto one fullyAT $1.00EXPIRINGto one fully
					60,650 OPTIOEACH,VEST	NS EXERCISABLEING30/06/2009,	AT $1.10EXPIRING
					30/6/2012 (eachpaid ordinary sh	option is to subscribeare).	to one fully
					46,830 OPTIOEASH, VESTIN	NS EXERCISABLEG 1/7/2008 (each	AT $1.20option is to
					subscribe to one	fully paid ordinary share);NS EXERCISABLE AT $1.20G 1/7/2009 (each option is tofully paid ordinary share)
					77,810 OPTIOEASH, VESTINsubscribe to one
					40,847 OPTIONS EXERCISABLE AT $1.40EASH, VESTING 1/7/2009 (each options 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)
+ See chapter 19 for defined terms.Appendix 3Y Page 2					11/3/2002

• 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	500,000
Number disposed	NIL
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$0.40 PER 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

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 SHARESHELD BY WILLIAM HARTNELL – HUSBAND)4,480,575 OPTIONS EXERCISABLE AT $0.30EACH AND EXPIRING 30/06/2009 (Each option isto subscribe to one fully paid ordinary share)70,000 OPTIONS EXERCISABLE AT $0.35EACH AND EXPIRING 01/01//2012 (each optionis to subscribe to one fully paid ordinary share);70,000 OPTIONS EXERCISABLE AT $0.40EACH AND EXPIRING 01/01/2012 (each option isto subscribe to one fully paid ordinary share);110,000 OPTIONS EXERCISABLE AT $0.50EACH AND EXPIRING 01/01/2012 (each option isto subscribe to one fully paid ordinary share);92,358 OPTIONS EXERCISABLE AT $0.90EACH AND EXPIRING 30/06/2012 (each option isto subscribe to one fully paid ordinary share);27,987 OPTIONS EXERCISABLE AT $0.90EACH,VESTING30/06/2008,EXPIRING30/6/2012 (each option is to subscribe to one fullypaid ordinary share);29,159 OPTIONS EXERCISABLE AT $1.00EACH,VESTING30/06/2008,EXPIRING30/6/2012 (each option is to subscribe to one fullypaid ordinary share);60,650 OPTIONS EXERCISABLE AT $1.10EACH,VESTING30/06/2009,EXPIRING30/6/2012 (each option is to subscribe to one fullypaid 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 options 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)

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	PARTICIPATION IN RIGHTS OFFER

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.

ar –	ar –	ange o rec	rs neress n conracs	rs neress n conracs	rs neress n conracs	rs neress n conracs
Note: In the casdisclosed in thisDetail of		e of a company, interests wpart.	hich come within paragrap		h (ii) of the definition	of “notifiable interest	of a director” should b	e
	Detail of	contract		N/A
	Nature of	interest
	Name of	eistered holder
	(if issued	gsecurities)
	Date of c	hange
	No. and	class of securitie	s to which
	interest rN Dil	elated prior to chal id f	ngei li
	ote: etasto which the i	are ony requre or a conterest has changed	tract n reaton
	Interest a	cquired
	Interest d	isposed
	Value/Co	nsideration
	Note: If consan estimated v	ideration is non-cash, proaluation	vide details and
Interest a	Interest a	fter change

• See chapter 19 for defined terms.

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