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	DAVID JOHNSON
Date of last notice	24 NOVEMBER 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	29 APRIL 2009

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

				IDORDINARY	IDORDINARY
No of securities held rior to chane		9	67167FULLYPA	IDORDINARY
. p g		,SH	, ARES (HELD BY DAVID	JOHNSON);
		4,$0(E	80,575 OPTIONS EX.30 EACH AND EXPIach option is to subscrib	ERCISABLE ATRING 30/06/2009to one fully paid
		ord	inary share);
		70EA	,000 OPTIONS EXERCICH AND EXPIRING	SABLE AT $0.351/01/2012 (each
		op	tion is to subscribe to	one fully paid
		ord	inary share);
		70EA	,000 OPTIONS EXERCICH AND EXPIRING 0	SABLE AT $0.401/01/2012 (each
		opord	tion is to subscribe toinary share);	one fully paid
		11	0000 OPTIONS EXERC	ISABLE AT $050
		EA	,CH AND EXPIRING 0	.1/01/2012 (each
		op	tion is to subscribe to	one fully paid
		ord92	inary share);358 OPTIONS EXERCI	SABLE AT $0.90
		EA	CH AND EXPIRING 3	0/06/2012 (each
		op	tion is to subscribe to	one fully paid
		or	inary 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 INTEREST225,000SHARESHELDBYDPINVESTMENTS <DEANP SUPER FUNDPTY LTD>
See chapter 19 for defined terms

+ See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Class	ORDINARY FULLY PAID
Number acquired	397,188
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

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.

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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.

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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