METGASCO LTD — Major Shareholding Notification 2013

Apr 23, 2013

604 Page 1 of 2 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 22/04/2013 The previous notice was given to the company on 07/11/2011 The previous notice was dated 07/11/2011

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	24,169,168	7.16%	57,122,009	12.83%

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:

See Appendix A for changes in relevant interests of ERM Power Limited, Energy Resource Managers Holdings Pty Ltd and Trevor St Baker.

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.	57,122,009 ORD	57,122,009
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.	57,122,009 ORD	57,122,009
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.	57,122,009 ORD	57,122,009

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:

604 Page 2 of 2 15 July 2001

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 52, 111 Eagle Street Brisbane QLD 4000
Trevor St Baker	658 Upper Brookfield Road, Upper Brookfield QLD 4069
Energy Resource Managers Holdings PtyLtd	EWM Group Pty Ltd, Level 4, 99 Creek Street, Brisbane QLD 4000

Signature

re
print name sign here	Peter Jans	capacity Company Secretary ERM Power Limited
		date 24 April 2013

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.

Appendix A

Form 604 - Metgasco Limited

Changes in relevant interests of ERM Power Limited, Energy Resource Managers Holdings Pty Ltd and Trevor St Baker

Date of Change	Nature of Change	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
15/11/2011	Dilutionas aresult ofsharesissued	N/A	24,169,168 ORD	24,169,168
15/12/2011	On market acquisition	165,481.05 $	415,695 ORD	415,695
16/12/2011	On market acquisition	67,100.00 $	175,000 ORD	175,000
19/12/2011	On market acquisition	69,701.84 $	182,142 ORD	182,142
20/12/2011	On market acquisition	43,779.26 $	113,827 ORD	113,827
21/12/2011	On market acquisition	33,372.33 $	83,854 ORD	83,854
22/12/2011	On market acquisition	26,000.00 $	65,000 ORD	65,000
23/12/2011	On market acquisition	22,675.20 $	56,688 ORD	56,688
28/01/2011	On market acquisition	33,539.60 $	83,849 ORD	83,849
29/12/2011	On market acquisition	40,789.13 $	101,146 ORD	101,146
3/01/2012	Increase in voting power as a result of cancellation of shares, partly offset by issue of new shares	N/A	25,446,369 ORD	25,446,369
3/01/2012	On market acquisition	24,275.37 $	61,949 ORD	61,949
4/01/2012	On market acquisition	16,917.37 $	43,649 ORD	43,649
5/01/2012	On market acquisition	23,294.34 $	58,973 ORD	58,973
6/01/2012	On market acquisition	22,450.31 $	57,793 ORD	57,793
10/01/2012	On market acquisition	45,533.65 $	115,535 ORD	115,535
11/01/2012	On market acquisition	35,550.00 $	90,000 ORD	90,000
12/01/2012	On market acquisition	21,186.30 $	53,170 ORD	53,170
16/01/2012	On market acquisition	50,175.00 $	125,000 ORD	125,000
17/01/2012	On market acquisition	25,350.30 $	61,830 ORD	61,830
19/01/2012	On market acquisition	20,000.00 $	50,000 ORD	50,000
20/01/2012	On market acquisition	64,730.00 $	160,300 ORD	160,300
23/01/2012	On market acquisition	43,005.00 $	107,925 ORD	107,925
24/01/2012	On market acquisition	49,865.00 $	125,000 ORD	125,000
25/01/2012	On market acquisition	87,295.00 $	221,000 ORD	221,000
27/01/2012	On market acquisition	51,040.73 $	130,885 ORD	130,885
30/01/2012	On market acquisition	43,016.52 $	110,952 ORD	110,952
31/01/2012	On market acquisition	230,565.00 $	608,000 ORD	608,000
8/03/2012	On market disposal	256,825.00 $	-625,000 ORD	-625,000
9/03/2012	On market disposal	65,880.80 $	-161,427 ORD	-161,427
20/03/2012	Increase in voting power as a result of cancellation of shares.	N/A	26,841,903 ORD	26,841,903
29/08/2012	Increase in voting power as a result of cancellation of shares.	N/A	26,841,903 ORD	26,841,903
29/08/2012	Dilutionas aresult ofsharesissued	N/A	26,841,903 ORD	26,841,903
21/09/2012	Dilutionas aresult ofshare placement	N/A	26,841,903 ORD	26,841,903
21/09/2012	Participation inshare placement	1,000,000.00 $	5,000,000 ORD	5,000,000
30/10/2012	Dilution as a result of issue of shares under share purchase plan	N/A	31,841,903 ORD	31,841,903
11/03/2013	On market acquisition	10,231.00 $	110,500 ORD	110,500
12/03/2013	On market acquisition	27,258.08 $	289,603 ORD	289,603
13/03/2013	On market acquisition	285,478.36 $	3,959,478 ORD	3,959,478
14/03/2013	On market acquisition	7,093.15 $	98,516 ORD	98,516
22/04/2013	On market acquisition	1,145,210.50 $	20,822,009 ORD	20,822,009