METGASCO LTD — Major Shareholding Notification 2018

Jan 17, 2018

Corporations Act 2001

Form 604

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme ACN/ARSN 088 196 383

Metgasco Limited ( MEL )

1. Details of substantial holder (1)

Name Aurora Funds Management Limited ( AFML ) as responsible entity of HHY Fund ARSN 112 579 129 ( HHY ). ACN 092 626 885 Name Seventh Orion Pty Ltd as trustee of the Aurora Investments Unit Trust ( Seventh Orion ) ACN 613 173 238

There was a change in the interests of the substantial holder on 16 January 2018 The previous notice was given to the company on 21 December 2017 The previous notice was dated 21 December 2017

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:

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----- Start of picture text ----- Previous notice Present noticeClass of securities (4) Person’s votes Voting power (5) Person’s votes Voting power (5)Ordinary shares ( Shares ) 37,497,541 9.41% 41,965,989 10.53%----- End of picture text -----

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:

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----- Start of picture text ----- Date of Person whose Nature of change (6) Consideration given in Class and number of Person’s voteschange relevant interest relation to change (7) securities affected affectedchanged22/12/2017 to AFML as On-market purchases Refer annexure “A” 4,468,448 shares 4,468,44816/01/2018 responsible entity ofHHY----- End of picture text -----

4. Present relevant interests

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

Holder ofrelevantinterest	Registeredholder ofsecurities	Person entitledto be registeredas holder (8)	Nature ofrelevant interest (6)	Class andnumber ofsecurities	Person’s votes
AFML asresponsibleentity of HHY	AFML <HHY A/C>	AFML <HHY A/C>	Relevant interest undersection 608(1)(b) and/or608(1)(c) of the Act, beinga relevant interest arisingfrom having the power tocontrol the exercise of theright to vote attached tosecurities and/or tocontrol the exercise of thepower to dispose of thesecurities (in its capacityas responsible entity of amanaged investmentscheme)	15,680,756Shares	15,680,756
AFML asresponsibleentity of HHY	BNP	BNP	Relevant interest undersection 608(1)(b) and/or608(1)(c) of the Act, beinga relevant interest arisingfrom having the power tocontrol the exercise of theright to vote attached tosecurities and/or tocontrol the exercise of thepower to dispose of thesecurities (in its capacityas responsible entity of amanaged investmentscheme)	26,285,233Shares	26,285,233
Seventh Orion	All of the above	All of the above	Relevant interest undersection 608(3)(a) of theAct, being a relevantinterest in the securities inwhich AFML has arelevant interest becauseSeventh Orion has votingpower above 20% inAFML	All of the above	All of theabove

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:

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----- Start of picture text ----- Name and ACN/ARSN (if applicable) Nature of associationNot applicable----- End of picture text -----

6. Addresses

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

Name	Address
AFML, HHY	Suite 613, Level 6, 370 St Kilda Road, Melbourne VIC 3004
BNP	Level 7, 60 Castlereagh Street, Sydney NSW 2000
Seventh Orion	Suite 613, Level 6, 370 St Kilda Road, Melbourne VIC 3004

Signature

	print nameJohn PattoncapacityDirector
	sign heredate 18 January 2018
	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.

Annexure A

This is page 1 of 1 Annexure A referred to in Form 604 Notice of change of interests of substantial holder, signed by me and dated 18 January 2018.

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John Patton Director

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----- Start of picture text ----- Holder of relevant interest Date of Consideration Consideration Number of Sharesacquisition cash per non-cash per acquiredShare Share22/12/2017 $0.055 N/A 83,095AFML as responsible entity 27/12/2017 $0.0588 2,460,117of HHY28/12/2017 $0.058 500,0002/01/2018 $0.060 13/01/2018 $0.060 3,5258/01/2018 $0.060 362,1459/01/2018 $0.060 105,00010/01/2018 $0.060 256,94312/01/2018 $0.062 85,96115/01/2018 $0.062 114,03916/01/2018 $0.0625 497,622----- End of picture text -----