EMERALD RESOURCES NL — Director's Dealing 2010

Mar 1, 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

2 March 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 in Director’s Interest Notice” for Emerald Oil & Gas NL as a result of the expiry of 1,500,000 unlisted options.

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	John Andrew HANNAFORD
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		Direct & Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.		Direct(a) Held byJohn HannafordIndirect(b) Held byEmma Hannaford(spouse)(c) Securities held byRiverview CorporationPty Ltd. Mr Hannaford is a Director andshareholder. Relevant interest arises under Section608(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) ofthe Corporations Act.)
Date of change		28 February 2010

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

No. of securities held prior to change		Direct(a) John Hannaford1,188,042 Ord SharesIndirect(b) Emma Hannaford (spouse)1,188,042 Ord Shares(c) Riverview Corporation Pty Ltd814,844 Ord Shares(d) Ventnor Capital Pty Ltd1,500,000 Options exercisable at 25 cents eachexpiring at or before 28 February 2010
Class		**(d)**Unlisted options exercisable at $0.25 expiringon 28 February 2010
Number acquired		N/A
Number disposed		Expiry of 1,500,000 unlisted options on 28February 2010
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation		N/A
No. of securities held after change		Direct(a) John Hannaford1,188,042 Ord SharesIndirect(b) Emma Hannaford (spouse)1,188,042 Ord Shares(c) Riverview Corporation Pty Ltd814,844 Ord Shares(d) Ventnor Capital Pty LtdNil
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participationin buy-back		Expiry of options

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

Appendix 3Y Change of Director’s Interest Notice

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