METGASCO LTD — Director's Dealing 2011

Nov 20, 2011

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 24 088 196 383

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	6 OCTOBER 2011

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 relevantinterest.
Date of change	15 NOVEMBER 2011

• 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	No. of securities held prior to change	3,948,333 FULLY PAID ORDINARY SHARES (HELDBY GLENDA MCLOUGHLIN)2,277,818 FULLY PAID ORDINARY SHARES (HELDBY ALLAGAI HOLDINGS PTY LTD)	3,948,333 FULLY PAID ORDINARY SHARES (HELDBY GLENDA MCLOUGHLIN)2,277,818 FULLY PAID ORDINARY SHARES (HELDBY ALLAGAI HOLDINGS PTY LTD)	3,948,333 FULLY PAID ORDINARY SHARES (HELDBY GLENDA MCLOUGHLIN)2,277,818 FULLY PAID ORDINARY SHARES (HELDBY ALLAGAI HOLDINGS PTY LTD)	3,948,333 FULLY PAID ORDINARY SHARES (HELDBY GLENDA MCLOUGHLIN)2,277,818 FULLY PAID ORDINARY SHARES (HELDBY ALLAGAI HOLDINGS PTY LTD)
		3,168,677 FULLY PAID ORDI		NARY SHARES (HELD
		BY MAXA PTY LTD – DIRECT		OR)
		500,000 FULLY PAID ORDIBY WILLIAM HARTNELL – SP		NARY SHARES HELDOUSE)
		*70,000 OPTIONS EXERC		ISABLE AT $0.3438
		EACH AND EXPIRING 01/01/subscribe to one fully paid ordi		2012 (each option is tonary share);
		*70,000 OPTIONS EXERCEAH AND EXPIRIN		ISABLE AT $0.3938h i i
		C G 01/01/subscribe to one fully paid ordi		012 (eac opton s tonary share);
		*110,000 OPTIONS EXERCEACH AND EXPIRING 01/01/		ISABLE AT $0.49382012 (each otion is to
		subscribe to one fully paid ordi		pnary share);
		*92,358 OPTIONS EXERCEACH AND EXPIRING 30/06/		ISABLE AT $0.89382012 (each option is to
		subscribe to one fully paid ordinary share);*27,987 OPTIONS EXERCISABLE AT $0.8938EACH, VESTING 30/06/2008, EXPIRING 30/6/2012h ti i t bib t fll id di
		(eac opon s o suscrshare);	e o one uy pa ornary
		*29,159 OPTIONS EXEEACH VESTING 30/06/2	RCISABLE AT $0.9938008 EXPIRING 30/6/2012
		,(each option is to subscribshare);	,e to one fully paid ordinary
		*60,650 OPTIONS EXE	RCISABLE AT $1.0938
		EACH, VESTING 30/06/2009, EXPIRING 30/6/2012(each option is to subscribe to one fully paid ordinaryshare).*46,830 OPTIONS EXERCISABLE AT $1.1938EACH, VESTING 1/7/2008 (each option is tosubscribe to one fully paid ordinary share);*77,810 OPTIONS EXERCISABLE AT $1.1938EACH, VESTING 1/7/2009 (each option is tosubscribe to one fully paid ordinary share)*40,847 OPTIONS EXERCISABLE AT $1.3938EACH, VESTING 1/7/2009 (each options is tosubscribe to one fully paid ordinary share)85,578 OPTIONS EXERCISABLE AT $1.5938EACH, VESTING 1/7/2010 (each option is tosubscribe to one fully paid ordinary share)277,778 OPTIONS EXERCISABLE AT $0.50 EACH,VESTING 1/9/2011 AND THE COMPANY’S SHAREPRICE REACHING $0.60 (each option is tosubscribe to one fully paid ordinary share)277,778 OPTIONS EXERCISABLE AT $0.50 EACH,VESTING 1/9/2012 AND THE COMPANY’S SHAREPRICE REACHING $0.70 (each option is tosubscribe to one fully paid ordinary share)= CONSEQUENT UPON THE APRIL 2009 RIGHTS ISSUE THE EXERCISE PRICE OFOUTSTANDING OPTIONS DECREASED BY A UNIFORM 0.0062 (ROUNDED TO 4DECIMAL PLACES) TO THE PRICES SHOWN ABOVE

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Class	FULLY PAID ORDINARY SHARES
Number acquired	596,774
Number disposed	NIL
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	$0.31 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

4,545,107 FULLY PAID ORDINARY SHARES (HELDBY GLENDA MCLOUGHLIN)2,277,818 FULLY PAID ORDINARY SHARES (HELDBY ALLAGAI HOLDINGS PTY LTD)3,168,677 FULLY PAID ORDINARY SHARES (HELDBY MAXA PTY LTD – DIRECTOR)500,000 FULLY PAID ORDINARY SHARES HELDBY WILLIAM HARTNELL – SPOUSE)*70,000 OPTIONS EXERCISABLE AT $0.3438EACH AND EXPIRING 01/01//2012 (each option is tosubscribe to one fully paid ordinary share);*70,000 OPTIONS EXERCISABLE AT $0.3938EACH AND EXPIRING 01/01/2012 (each option is tosubscribe to one fully paid ordinary share);*110,000 OPTIONS EXERCISABLE AT $0.4938EACH AND EXPIRING 01/01/2012 (each option is tosubscribe to one fully paid ordinary share);*92,358 OPTIONS EXERCISABLE AT $0.8938EACH AND EXPIRING 30/06/2012 (each option is tosubscribe to one fully paid ordinary share);*27,987 OPTIONS EXERCISABLE AT $0.8938EACH, VESTING 30/06/2008, EXPIRING 30/6/2012(each option is to subscribe to one fully paid ordinaryshare);*29,159 OPTIONS EXERCISABLE AT $0.9938EACH, VESTING 30/06/2008, EXPIRING 30/6/2012(each option is to subscribe to one fully paid ordinaryshare);*60,650 OPTIONS EXERCISABLE AT $1.0938EACH, VESTING 30/06/2009, EXPIRING 30/6/2012(each option is to subscribe to one fully paid ordinaryshare).*46,830 OPTIONS EXERCISABLE AT $1.1938EACH, VESTING 1/7/2008 (each option is tosubscribe to one fully paid ordinary share);*77,810 OPTIONS EXERCISABLE AT $1.1938EACH, VESTING 1/7/2009 (each option is tosubscribe to one fully paid ordinary share)*40,847 OPTIONS EXERCISABLE AT $1.3938EACH, VESTING 1/7/2009 (each options is tosubscribe to one fully paid ordinary share)85,578 OPTIONS EXERCISABLE AT $1.5938EACH, VESTING 1/7/2010 (each option is tosubscribe to one fully paid ordinary share)277,778 OPTIONS EXERCISABLE AT $0.50 EACH,VESTING 1/9/2011 AND THE COMPANY’S SHAREPRICE REACHING $0.60 (each option is tosubscribe to one fully paid ordinary share)277,778 OPTIONS EXERCISABLE AT $0.50 EACH,VESTING 1/9/2012 AND THE COMPANY’S SHAREPRICE REACHING $0.70 (each option is tosubscribe to one fully paid ordinary share)= CONSEQUENT UPON THE APRIL 2009 RIGHTS ISSUE THE EXERCISE PRICE OFOUTSTANDING OPTIONS DECREASED BY A UNIFORM 0.0062 (ROUNDED TO 4DECIMAL PLACES) TO THE PRICES SHOWN ABOVE

• See chapter 19 for defined terms.

Appendix 3Y Page 4

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Appendix 3Y Change of Director’s Interest Notice

Nature of change ISSUE OF SECURITIES APPROVED BY Example: on-market trade, off-market trade, exercise of options, issue of MEMBERS AT THE ANNUAL GENERAL securities under dividend reinvestment plan, participation in buy-back MEETING HELD ON 14 NOVEMBER 2011

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 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 and anestimated valuation
Interest after change

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	NO
If so, was prior written clearance provided to allow the tradeto proceed during this period?
If prior written clearance was provided, on what date was thisprovided?

• See chapter 19 for defined terms.

Appendix 3Y Page 5

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