METGASCO LTD — Director's Dealing 2012

Feb 28, 2012

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	STEVEN KOROKNAY
Date of last notice	12 AUGUST 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 in	direct interest		INDIRECT
Nature of indirect interest(including registered holder)			BOND STREET CUSTODIANS LIMITED<2BB – SS0121 A/C> CUSTODIAN FORSJK SUPER FUND)
Note: Provideinterest	details of the circumstances giving rise to the relevant		SJK SUPER FUND
.
Date of cha	nge		28 FEBRUARY 201
No. of securities held prior to change			147,693 FULLY PAID ORDINARY SHARES(HELDINTHENAMEOFSTEVENKOROKNAY)87,693 FULLY PAID ORDINARY SHARES(HELD IN THE NAME OF BOND STREETCUSTODIANS LIMITED<2BB – SS0121 A/c> CUSTODIAN FOR SJKSUPER FUND)
			(HELDCUST<2BB
			SUPE
Class			FULLY	PAID ORDINARY SHARES
			NIL
Number disposed			NIL
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation			NIL

• 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 after change 147,693 FULLY PAID ORDINARY SHARES (HELD IN THE NAME OF STEVEN KOROKNAY) 87,693 FULLY PAID ORDINARY SHARES (HELD IN THE NAME OF AVANTEOS INVESTMENTS LIMITED <3347313 A/C> CUSTODIAN FOR SJK SUPER FUND) Nature of change TRANSFER Example: on-market trade, off-market trade, exercise of options, issue of 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 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

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed NO above traded during a[+] closed period where prior written clearance was required? If so, was prior written clearance provided to allow the trade N/A to proceed during this period? If prior written clearance was provided, on what date was this N/A provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002