METGASCO LTD — Director's Dealing 2010

Jul 1, 2010

Appendix 3Z Final Director’s Interest Notice

Rule 3.19A.3

Appendix 3Z

Final 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 LIMITED

ABN 008 196 383

We (the entity) give ASX the following information under listing rule 3.19A.3 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of director	PETER POWER
Date of last notice	14 DECEMBER 2009
Date that director ceased to be director	1 JULY 2010

Part 1 – Director’s relevant interests in securities of which the director is the registered holder

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.

Number & class of securities

3,738,611 FULLY PAID ORDINARY SHARES (HELD BY PETER POWER);

41,786 FULLY PAID ORDINARY SHARES (HELD BY POWER FAMILY HOLDINGS);

1,698,852 FULLY PAID ORDINARY SHARES (HELD BY PHESOJ PTY LTD);

550,682 FULLY PAID ORDINARY SHARES (HELD BY KAREN POWER)

100,000 OPTIONS EXERCISABLE AT $1.1938 EACH VESTING 01/07/2008 AND EXPIRING 01/07/2013 (each option is to subscribe to one fully paid ordinary share);

100,000 OPTIONS EXERCISABLE AT $1.3938 EACH VESTING 01/07/2010 AND EXPIRING 01/07/2013 (each option is to subscribe to one fully paid ordinary share);

100,000 OPTIONS EXERCISABLE AT $1.5938 EACH VESTING 01/07/2011 AND EXPIRING 01/07/2013 (each option is to subscribe to one fully paid ordinary share); NB THESE OPTIONS WILL LAPSE IMMEDIATELY.

• See chapter 19 for defined terms.

Appendix 3Z Page 1

11/3/2002

Appendix 3Z Final Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

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.

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of interestNote: Provide details of the circumstances giving rise tothe relevant interestNA	Number & class of securities

Part 3 – Director’s interests in contracts

Detail of contract	NA
Nature of interest
Name of registered holder(if issued securities)
No. and class of securities to whichinterest relates

• See chapter 19 for defined terms.

Appendix 3Z Page 2

11/3/2002