EMERALD RESOURCES NL — Capital/Financing Update 2011

Sep 7, 2011

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----- Start of picture text ----- 15 Rheola StreetWEST PERTH WA 6005Telephone: +61 8 9213 4388Facsimile: +61 8 9213 4399ASX Code: ETE----- End of picture text -----

ASX RELEASE 8 September 2011

NIOBRARA SHALE OIL PROJECT APPRAISAL PROGRAM UPDATE

Entek is pleased to provide an update on the Niobrara Shale Oil Project Appraisal Program in the Green River Basin.

Battle Mountain 14-10L – Pressure analysis has been performed on the first of the Niobrara zones to be tested in the well to refine the fracture stimulation program, which is on schedule for around 15[th] September 2011.

Slater Dome (SD) Federal 24-9DL – The decision was made to cease recovery operation in the original open-hole and to re-drill the Niobrara section in the well. A cement plug was set in the original open-hole section and the new sidetrack hole is currently being drilled at a depth of 4,700 ft, with total depth expected to be reached within the week, after which the well will be wire-line logged and cased and cemented in preparation for testing.

C&C Cattle 18-8 – DHS Rig 19 is set up on location and is expected to spud the well within the next 24 hours. The decision to bring in a second drill rig for the third well, while DHS Rig 18 completes the 24-9 well, will ensure we have all three wells prepared for the October and November fracture stimulation dates.

All enquiries should be directed to:

TRENT B SPRY

CHIEF EXECUTIVE OFFICER & MANAGING DIRECTOR ENQUIRIES: +618 9213 4388 INFO@ENTEKENERGY.COM.AU INFORMATION: WWW.ENTEKENERGY.COM.AU

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Competent Persons Statements:

Information in this report that relates to Hydrocarbon Reserves / Resources is based on information compiled by Mr Trent Spry, Chief Executive Officer & Managing Director of Entek Energy Limited who has consented to the inclusion of that information in the form and context in which it appears. Mr Spry has over 20 years experience in geoscience in the petroleum industry, both in Australia and internationally. His qualifications are: University of Adelaide, Bachelor of Science, Double Major Geology & Biochemistry, National Centre of Petroleum Geology & Geophysics (NCPGG), First Class Honours, 1993.

About The Company:

Entek is focused on a strategy of acquiring and exploring potentially high impact oil and gas opportunities in proven and producing areas. Entek has acquired a significant portfolio of acreage in the offshore shallow waters of the Outer Continental Shelf of the Gulf of Mexico. The Company has a total of 5 blocks in the Gulf of Mexico prospective for oil with a combined gross prospective resource of over 30 MMBOE some of which (VR 342 and VK 818) has been proven by recent and previous drilling. Onshore in the Green River Basin the Company’s interest covers approximately 80,000 gross acres of highly prospective leasehold that includes existing producing coal bed methane wells, infrastructure and long life 2P conventional and shale resource reserves. The primary focus of the Company onshore is the appraisal of its Niobrara Oil Resource Play. Onshore the Company has a share of gross Contingent Resource of 187 MMBO and 191 BCFG (conservative 4% recovery) and Reserves of 16.2 MMBO and 114 BCFG (total P1, P2 and P3 reserves).

Entek (ASX:ETE) holds a 55% interest in the Green River Basin Joint Venture (GRBJV) with Emerald Oil & Gas NL (ASX:EMR) holding 45%. Entek is the Operator. The GRBJV now controls close to 80,000 gross acres, approximately 60,000 net acres, covering the Niobrara Shale Oil Play.