METGASCO LTD — Major Shareholding Notification 2005

Sep 21, 2005

$2/$

$\mathrel{\mathop{\mathfrak{S}}\nolimits}$

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	Metgasco Ltd
ACN/ARSN	088 196 383
1. Details of substantial holder (1) Name	Lost Ark Nominees Pty Limited("Lost Ark")ACN 071935423& Peter Gray
ACN/ARSN (if applicable)
The holder became a substantial holder on	12/12/1996

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holde

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Ordinary Shares	3.329.628	3.329.628	13.329628

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
∣Lost Ark	Holder	FPO 3,329,628
Keter سمما	Owner	FAO3, 329, 628

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Class and number of securities
Lost Ark	Lost Ark		FPO 3.329.628

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Cash	Non-cash

page 2/2 15 July 2001

603

$#$

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
Lost Ark	NOMINEE
بملت بهتر

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Lost Ark & Peter Gray	c/- Southern Cross Equities, L 32, 88 Phillip St, Sydney

Signature

print name Peter Gray		capacity Lost Art Director & Selt
sign here		date

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an
  equity trust), the names could be induced in an anne $(1)$ form
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $\left( 3\right)$
• The voting shares of a company constitute one class unless divided into separate classes. $\left( 4\right)$
• The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant. $\left( 5\right)$ interest in.
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(6)$
• $\eta$ Include details of:
• any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out
  the terms of any relevant agreement, and a statement by the perso $\left( a\right)$
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to
  which the relevant interest relates (indicating clearly the $(b)$

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown". (8)
• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become 僧 extinct to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included the conditional on the happening or not of the relevant interest was acquired.