METGASCO LTD — Major Shareholding Notification 2011

Nov 6, 2011

604 Page 1 of 3 15 July 2001

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Metgasco Limited

ACN/ARSN 088 196 383

1. Details of substantial holder (1)

ERM Power Limited (ACN 122 259 223), Energy Resource Managers Holdings Name Pty Ltd (ACN 010 165 554) and Trevor St Baker

ACN/ARSN (if applicable)

As above

There was a change in the interests of the substantial holder on

substantial holder on 03/11/2011 The previous notice was given to the company on 29/09/2011 The previous notice was dated 29/09/2011

2. Previous and present 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 when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

cheme, are as follows:
Class of securities (4)	Previous notice		Present notice
	Person’s votes	Voting power(5)	Person’s votes	Voting power(5)
ORD	18,586,989	5.51%	24,169,168	7.16%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
29 September 2011	ERM Power Limited, Energy Resource Managers Holdings PtyLtd andTrevorStBaker	On market acquisition	$145,305.00	419,500 ORD	419,500
5 October 2011	ERM Power Limited, Energy Resource Managers Holdings PtyLtd andTrevorStBaker	On market acquisition	$545,897.81	1,108,498 ORD	1,108,498
18 October 2011	ERM Power Limited, Energy Resource Managers Holdings PtyLtd andTrevorStBaker	On market acquisition	$262,176.32	580,893 ORD	580,893
19 October 2011	ERM Power Limited, Energy Resource Managers Holdings PtyLtd andTrevorStBaker	On market acquisition	$206,251.20	458,336 ORD	458,336
20 October 2011	ERM Power Limited, Energy Resource Managers Holdings PtyLtd andTrevorStBaker	On market acquisition	$215,875.00	482,000 ORD	482,000
21 October 2011	ERM Power Limited, Energy Resource Managers Holdings PtyLtd andTrevorStBaker	On market acquisition	$126,491.30	283,168 ORD	283,168
03 November 2011	ERM Power Limited, Energy Resource Managers Holdings PtyLtd andTrevorStBaker	On market acquisition	$576,763.45	1,155,310 ORD	1,155,310
04 November 2011	ERM Power Limited, Energy Resource Managers Holdings PtyLtd andTrevorStBaker	On market acquisition	$229,865.50	459,731 ORD	459,731
07 November 2011	ERM Power Limited, Energy Resource Managers Holdings PtyLtd andTrevorStBaker	On market acquisition	$317,371.50	634,743 ORD	634,743

604 Page 2 of 3 15 July 2001

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered asholder(8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
ERM Power Limited	ERM Power Limited	ERM Power Limited	Pursuant to section 608(1) of the Corporations Act 2001.	24,169,168 ORD	24,169,168
Energy Resource Managers Holdings Pty Ltd	ERM Power Limited	ERM Power Limited	Energy Resource Managers has a relevant interest in any securities that ERM Power Limited has a relevant interest in by virtue of section 608(3)(a) of the Corporations Act 2001.	24,169,168 ORD	24,169,168
Trevor St Baker	ERM Power Limited	ERM Power Limited	Trevor St Baker has a relevant interest in any securities that Energy Resource Managers Holdings Pty Ltd has a relevant interest in by virtue of section 608(3)(b) ofthe Corporations Act 2001.	24,169,168 ORD	24,169,168

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
N/A

6. Addresses

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

Name	Address
ERM Power Limited	Level 5, Riverside Centre, 123 Eagle Street Brisbane QLD 4000
Trevor St Baker	658 Upper Brookfield Road, Upper Brookfield QLD 4069
Energy Resource Managers Holdings PtyLtd	C/- Accounting Solutions & Strategies, Level 10, 87 Wickham Terrace Spring Hill QLD 4000

Signature

print name sign here	Peter Jans capacity Company Secretary ERM Power Limited
	date 7 November 2011

604 Page 3 of 3 15 July 2001

DIRECTIONS

• (1) 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 included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.

• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.

• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

• (4) The voting shares of a company constitute one class unless divided into separate classes.

• (5) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (6) Include details of:

• (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

• (b) 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 particular securities to which the qualification applies).

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

• (7) 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 entitled 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 of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

• (8) 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".

• (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.