EMERALD RESOURCES NL — Director's Dealing 2007

Jul 8, 2007

Rule 3.19A.2

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Level 2, 16 Altona Street West Perth WA 6005 Ph: 08 9482 0500 Fx: 08 9482 0505 Email: info@emeraldoilandgas.com www.emeraldoilandgas.com

9 July 2007

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

APPENDIX 3Y – CHANGE OF DIRECTORS INTEREST NOTICE x 2

Please find attached two Appendix 3Y “Change in Director’s Interest Notices” for Emerald Oil & Gas NL.

Yours faithfully,

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John Hannaford Company Secretary

Appendix 3Y Change of Director’s Interest Notice

Appendix 3Y

Change of 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 ABN 72 009 795 046

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Robert James BERVEN
Date of last notice	7 May 2007

Part 1 - Change of director’s relevant interests in securities

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.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Direct (a) Bob Berven Indirect (b) Zadar Holdings Pty Ltd Mr Berven is a Director and shareholder. Relevant interest arises under Section 608(3) of the Corporations Act. (c) Holdings with spouse and/or family members (d) Berven Consultants Pty Ltd Mr Berven is a Director and shareholder. Relevant interest arises under Section 608(3) of the Corporations Act.
Date of change	(a) N/A. (b) 6 July 2007 (c) 6 July 2007 (d) N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

No. of securities held prior to change	Direct (a) Bob Berven 10,000 Ordinary Shares 10,000 Listed Options Indirect (b) Zadar Holdings Pty Ltd 3,039,054 Ordinary Shares 20,000 Listed Options 500,000 Options exercisable at 25 cents each expiring at or before 31 December 2008 500,000 Options exercisable at 30 cents each expiring at or before 31 December 2009 (c) Holdings with spouse and/or family members 80,000 Ordinary Shares 100,000 Listed Options (d) Berven Consultants Pty Ltd 10,000 Ordinary Shares 10,000 Listed Options
Class	Ordinary Shares
Number acquired	(a) N/A (b) 100,000 (c) 20,000 (d) N/A
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	(a) N/A (b) $18,500.00 (c) $3,700.00 (d) N/A
No. of securities held after change	Direct (a) Bob Berven 10,000 Ordinary Shares 10,000 Listed Options Indirect (b) Zadar Holdings Pty Ltd 3,139,054 Ordinary Shares 20,000 Listed Options 500,000 Options exercisable at 25 cents each expiring at or before 31 December 2008 500,000 Options exercisable at 30 cents each expiring at or before 31 December 2009.
	(c) Holdings with spouse and/or family members 100,000 Ordinary Shares 100,000 Listed Options (d) Berven Consultants Pty Ltd 10,000 Ordinary Shares 10,000 Listed Options

Appendix 3Y Change of Director’s Interest Notice

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On market trades

Part 2 – Change of 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
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 4

11/3/2002

Appendix 3Y

Change of 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 ABN 72 009 795 046

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	John Andrew HANNAFORD
Date of last notice	7 May 2007

Part 1 - Change of director’s relevant interests in securities

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.

Direct or indirect interest		Direct & Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.		Direct (a) Held byJohn Hannaford Indirect (b) Held byEmma Hannaford(spouse) (c) Securities held byRiverview Corporation Pty Ltd. Mr Hannaford is a Director and shareholder. Relevant interest arises under Section 608(3) of the Corporations Act.) (d) Securities held byVentnor Capital Pty Ltd. Mr Hannaford is a Director and shareholder. Relevant interest arises under Section 608(3) of the Corporations Act.)
Date of change		9 July 2007

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change		Direct (a) John Hannaford 1,188,042 Ord Shares Indirect (b) Emma Hannaford (spouse) 1,188,042 Ord Shares (c) Riverview Corporation Pty Ltd 273,529 Ord Shares 100,000 Listed Options exercisable at 20c exercisable on or before 31/05/08 (d)Ventnor Capital Pty Ltd 1,500,000 Options exercisable at 25 cents each expiring at or before 28 February 2010 750,000 Options exercisable at 25 cents each expiring at or before 31 December 2008 750,000 Options exercisable at 30 cents each expiring at or before 31 December 2009
Class		Ordinary Shares
Number acquired		(a) Nil (b) Nil (c ) 100,000
Number disposed		Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated ~~valuation~~		$17,500.00
No. of securities held after change		Direct (a) John Hannaford 1,188,042 Ord Shares Indirect (b) Emma Hannaford (spouse) 1,188,042 Ord Shares (c) Riverview Corporation Pty Ltd 373,529 Ord Shares 100,000 Listed Options exercisable at 20c exercisable on or before 31/05/08

• See chapter 19 for defined terms.

Appendix 3Y Page 6

11/3/2002

No. of securities held after change (Cont’d)	(d)Ventnor Capital Pty Ltd 1,500,000 Options exercisable at 25 cents each expiring at or before 28 February 2010 750,000 Options exercisable at 25 cents each expiring at or before 31 December 2008 750,000 Options exercisable at 30 cents each expiring at or before 31 December 2009
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On market trades

Part 2 – Change of 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
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change