EMERALD RESOURCES NL — Capital/Financing Update 2011

Jun 28, 2011

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Suite 2, 12 Parliament Place West Perth WA 6005 Ph: +618 9482 0510 Fax: +618 9482 0505 Email: info@emeraldoilandgas.com www.emeraldoilandgas.com

29 June, 2011

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

SECONDARY TRADING NOTICE PURSUANT TO SECTION 708A(5) OF THE CORPORATIONS ACT 2001

Emerald Oil & Gas NL (“Emerald” or the “Company”) has issued a total of 48,900,000 shares and 91,800,000 unlisted options.

Shares

33,900,000 shares were issued at an issue price of $0.05 each, pursuant to an offer made to a number of sophisticated investors (as defined in Section 708 of the Corporations Act 2001 (“Corporations Act”) under a placement coordinated by Soaring Securities, and 15,000,000 shares were issued as consideration for transaction fees as approved by shareholders in April 2011.

Options

50,000,000 unlisted options exercisable at 5 cents each expiring on 28 June 2014 approved by shareholders in April 2011 were issued as transaction options and 41,800,000 unlisted options exercisable at 5 cents each expiring on 30 April 2014 were issued as consideration for underwriting / backstop fees.

The Corporations Act restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A. By the Company giving this notice, sale of the Securities noted above will fall within the exemption in section 708A(5) of the Corporations Act.

The Company hereby notifies under section 708A(5)(e) of the Corporations Act that:

• (a) the Securities were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

• (b) as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Corporations Act as they apply to the Company;

• (c) as at the date of this notice, the Company has complied with section 674 of the Corporations Act as it applies to the Company; and

• (d) as at the date of this notice, there is no information:

  • i. that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

  • ii. that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

    • A. The assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

    • B. The rights and liabilities attaching to the Securities.

Yours faithfully,

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MIKE KRZUS Managing Director mkrzus@emeraldoilandgas.com

For more information please contact:

Emerald Oil & Gas NL

Tel: +618 9482 0510