EMERALD RESOURCES NL — Director's Dealing 2010

Jun 8, 2010

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Suite 2, 12 Parliament Place West Perth WA 6005 Ph: 08 9482 0510 Fx: 08 9482 0505 Email: info@emeraldoilandgas.com www.emeraldoilandgas.com

9 June 2010

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 of 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	Jeremy David SHERVINGTON
Date of last notice	6 January 2010

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	**(a) Securities held byDrumgaghan Pty Ltd.**Mr
(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.	Shervington is Director and controllingshareholder of Drumgaghan Pty Ltd. Relevant
	interest arises under Section 608(3) of the
	Corporations Act.
	**(b) Securities held byPanga Pty Ltd.**Mr
	Shervington is Director and controlling
	shareholder of Panga Pty Ltd. Relevant
	interest arises under Section 608(3) of the
	Corporations Act.
Date of change	7 June 2010
No. of securities held prior to change	(a) Drumgaghan Pty Ltd:
	3,150,977 Ordinary Shares
	(b) Panga Pty Ltd:
	100,000 Ordinary Shares
	367,577 Director Options exercisable at 17.68c on
	or before 23/01/11
Class	Ordinary Shares

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

Number acquired	1,000,000
Number disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$23,000
No. of securities held after change	(a) Drumgaghan Pty Ltd:3,150,977 Ordinary Shares(b) Panga Pty Ltd:1,100,000 Ordinary Shares367,577 Director Options exercisable at 17.68c onor before 23/01/11
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participationin buy-back	On market trade

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 towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation
Interest after change