EMERALD RESOURCES NL — Director's Dealing 2011

Apr 6, 2011

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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

• 7 April 2011

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	Michael KRZUS
Date of last notice	21 September 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.		DirectMichael KrzusIndirectPlan B Trustees Limited <Lifetime Super FundA/C> ATF Krzus Super FundMrs Judith Lorraine Krzus <Krzus FamilyA/C>
Date of change		4thand 5thApril 2011
No. of securities held prior to change		DirectMichael Krzus5,000,000 ordinary shares2,500,000 listed options exercisable at $0.05 eachexpiring on or before 31 August 20125,000,000 Unlisted Options exercisable at $0.10each expiring on or before 31 March 2014IndirectPlan B Trustees Limited <Lifetime Super FundA/C> ATF Krzus Super Fund709,226 ordinary shares173,688 listed options exercisable at $0.05 eachexpiring onorbefore 31 August2012

• See chapter 19 for defined terms.

Appendix 3Y Page 2

Class		Listed options
Number acquired		Mrs Judith Lorraine Krzus <Krzus FamilyA/C>1,800,000 EMRO listed options
Number disposed		Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation		$36,396
No. of securities held after change		DirectMichael Krzus5,000,000 ordinary shares2,500,000 listed options exercisable at $0.05 eachexpiring on or before 31 August 20125,000,000 Unlisted Options exercisable at $0.10each expiring on or before 31 March 2014IndirectPlan B Trustees Limited <Lifetime Super FundA/C> ATF Krzus Super Fund709,226 ordinary shares173,688 listed options exercisable at $0.05 eachexpiring on or before 31 August 2012Mrs Judith Lorraine Krzus <Krzus FamilyA/C>1,800,000 listed options exercisable at $0.05 eachexpiring onorbefore 31 August2012
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participationin buy-back		On market purchase

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 and anestimated valuation
Interest after change

Appendix 3Y Change of Director’s Interest Notice

Part 3 – +Closed period

Part 3 – +Closed period
Were the interests in the securities or contracts detailed	No
above traded during a +closed period where prior
written clearance was required?
If so, was prior written clearance provided to allow the	N/A
trade to proceed during this period?
If prior written clearance was provided, on what date	N/A
was this provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 4