EMERALD RESOURCES NL — Director's Dealing 2009

May 7, 2009

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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

8 May 2009

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	18 March 2009

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 therelevant interest.	Direct(a) Bob BervenIndirect(b) Zadar Holdings Pty LtdMr Berven is a Director and shareholder. Relevantinterest arises under Section 608(3) of the CorporationsAct.(c) Holdings with spouse and/or family memberholdings(d) Berven Consultants Pty LtdMr Berven is a Director and shareholder. Relevantinterest arises under Section 608(3) of the CorporationsAct.
Date of change	6 & 7 May 2009

• See chapter 19 for defined terms.

Appendix 3Y Page 2

No. of securities held prior to change	Direct(a) Bob Berven20,000 Ordinary SharesIndirect(b) Zadar Holdings Pty Ltd3,319,054 Ordinary Shares500,000 Management Options exercisable at 30ceach expiring on or before 31/12/09(c) Holdings with spouse120,000 Ordinary Shares (d) Berven Consultants Pty Ltd20,000 Ordinary Shares
Class	Ordinary shares
Number acquired	Nil
Number disposed	290,000
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$15,660
No. of securities held after change	Direct(a) Bob Berven20,000 Ordinary SharesIndirect(b) Zadar Holdings Pty Ltd3,029,054 Ordinary Shares500,000 Management Options exercisable at 30ceach expiring on or before 31/12/09(c) Holdings with spouse120,000 Ordinary Shares (d) Berven Consultants Pty Ltd20,000 Ordinary Shares
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participationin buy-back	On market sale