EMERALD RESOURCES NL — Board/Management Information 2009

Aug 13, 2009

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Level 2, 16 Altona Street West Perth WA 6005 Ph: 08 9482 0510 Fx: 08 9482 0505 Email: info@emeraldoilandgas.com www.emeraldoilandgas.com

13 August 2009

Centralised Company Announcements Platform Australian Stock Exchange 10[th] floor, 20 Bond Street Sydney NSW 2000

APPOINTMENT OF MANAGING DIRECTOR - APPENDIX 3X

The Board of Emerald Oil & Gas NL (“Emerald” or “the Company”) is pleased to announce the appointment of Mr Mike Krzus as a Managing director of the company having satisfied the conditions of his employment contract.

Since his appointment as Chief Executive Officer in February 2009, Mr Krzus has been involved in the development of Emerald’s Appalachian Basin Gas Project, including the recording of Emerald’s first gas revenues, and the strategic management of the Company’s exploration assets.

Mike Krzus is an experienced petroleum industry executive with over 25 years experience managing technical and business areas in upstream oil & gas, LNG and geothermal. He holds a Diploma in Oil and Gas Technology from the British Columbia Institute of Technology and a BSc. in Petroleum Engineering Tulsa University. Mike is a member of the Society of Petroleum Engineers (SPE) and Graduate member of the Australian Institute of Company Directors (AICD).

After starting as a Reservoir Engineer with Home Oil in Calgary in 1983, he began a 22 year career at Woodside Petroleum in 1986 starting as a Business Analyst and then Senior Production Technologist before moving to Woodside’s Melbourne corporate office in 1990. With Woodside he has held various technical and commercial positions in Business Development, Business Planning, Joint Venture management (North West Shelf) and Upstream oil and gas Development, including a four year secondment to Shell, leading gas field development teams in the Netherlands.

Please find attached an Appendix 3X “Initial Director’s Interest Notice” for Emerald Oil & Gas NL.

Yours faithfully,

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Morgan Barron Company Secretary

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial 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 EMERALD OIL & GAS NL

ACN 112 283 520

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Mike KRZUS
Date of appointment	13/08/2009

Part 1 - Director’s relevant interests in securities of which the director is the registered holder

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.

Number & class of securities

5,000,000 Unlisted Options exercisable at $0.10 each expiring on or before 31 March 2014.*

The options are issued with the following vesting conditions:

1. (a) 25% of the options vest on 1 August 2009; (b) 25% vest on 1 February 2010;

   • (c) 25% vest on 1 August 2010; and

   • (d) 25% vest on 1 February 2011.

2. Options are only exercisable if the share price is >20 cents on a 5 day volume weighted average basis.

• See chapter 19 for defined terms.

Appendix 3X Page 2

11/3/2002

Appendix 3X Initial Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

	Name of holder & nature ofinterestNote: Provide details of the circumstances giving rise tothe relevant interest.	Number & class of Securities

Part 3 – 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	N/A
Name of registered holder(if issued securities)	N/A
No. and class of securities towhich interest relates	N/A

• See chapter 19 for defined terms.

Appendix 3X Page 3

11/3/2002