EMERALD RESOURCES NL — Director's Dealing 2011

Jan 3, 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

4 January 2011

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

RETIREMENT OF DIRECTOR / APPENDIX 3Z

The board of Emerald Oil & Gas NL has accepted the retirement of Mr Bob Berven, effective 31 December 2010.

Mr Berven has been a director of Emerald since June 2006 and has been a valued member of the Board. The Board would like to extend its sincerest thanks to Mr Berven for his contributions over the last four and a half years.

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

Yours faithfully,

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Morgan Barron Company Secretary

Appendix 3Z Final Director’s Interest Notice

Appendix 3Z

Final 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.3 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	21 September 2010
Date that director ceased to be director	31 December 2010

Part 1 – Director’s relevant interests in securities of which the director is the registered holder 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.

Number & class of securities

Direct

Bob Berven 39,200 Ordinary Shares 9,600 listed options exercisable at $0.05 each expiring on or before 31 August 2012

• See chapter 19 for defined terms.

Appendix 3Z Page 2

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

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.

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

	Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest Zadar Holdings Pty Ltd Holdings with spouse Berven Consultants Pty Ltd	Number & class of securities 7,896,946 Ordinary Shares 1,933,946 listed options exercisable at $0.05 each expiring on or before 31 August 2012 235,200 Ordinary Shares 57,600 listed options exercisable at $0.05 each expiring on or before 31 August 2012 39,200 Ordinary Shares 9,600 listed options exercisable at $0.05 each expiring on or before 31 August 2012

Part 3 – Director’s interests in contracts

Detail of contract Nature of interest Name of registered holder (if issued securities) No. and class of securities to which interest relates