EMERALD RESOURCES NL — Director's Dealing 2008

Jun 3, 2008

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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

03 June 2008

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

APPENDIX 3Y – CHANGE OF DIRECTORS INTEREST NOTICE

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

Yours faithfully,

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Morgan Barron 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	19 May 2008

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 member holdings (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	02 June 2008

• See chapter 19 for defined terms.

Appendix 3Y Page 2

No. of securities held prior to change	Direct (a) Bob Berven 20,000 Ordinary Shares Indirect (b) Zadar Holdings Pty Ltd 3,169,054 Ordinary Shares 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 holdings 260,000 Ordinary Shares (d) Berven Consultants Pty Ltd 20,000 Ordinary Shares
Class	Ordinary Shares
Number acquired	50,000
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$10,401.50
No. of securities held after change	Direct (a) Bob Berven 20,000 Ordinary Shares Indirect (b) Zadar Holdings Pty Ltd 3,219,054 Ordinary Shares 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 holdings 260,000 Ordinary Shares (d) Berven Consultants Pty Ltd 20,000 Ordinary Shares
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 trade

Appendix 3Y Change of Director’s Interest Notice

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