EMERALD RESOURCES NL — Director's Dealing 2003

Feb 6, 2003

7.FEB.2003 9:27

ASX PERTH

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VAS:MS:AJC

5 February 2003

Mr Anthony Walsh Listings Manager Australian Stock Exchange 2 The Esplanade PERTH WA 6000

Dear Sir

MATRIX OIL NL (SUBJECT TO DEED OF COMPANY ARRANGEMENT) ACN 009 795 046 ("the Company")

I refer to previous correspondence in relation to the above Company.

Please find attached an Appendix 3Z "Final Director's Interest Notice" for release to the market.

If you have any queries in relation to this matter, please do not hesitate to contact either myself or in my absence, Mr Mark Summers of this office.

Yours faithfully

VINCENT SMITH Joint & Several Deed Administrator

PARTNER5 Bryan Hughes Vincent Smith Chris Munday Quentin Megion CONSULTANTS Ross Norgard Trever Clohessy

G:\INSOLCLT\Matrix\esx announcement 030203.doc

Appendix 3Z Final Director's Interest Notice

Rule 3.19A.3

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:	r Matrix Oil NL (Administrators Appointed)
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:	Phillip Royston Davies
Date of last notice:	8 January 2002
Date that director ceased to be a director:	17 January 2003

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

Number & class of securities
21,300,000	Fully paid shares
28,000,000	Partly paid shares
30,000,000	Options (20 cents by 31.12.04)

Part 2 - Director's relevant Interests in securities of which the director is not the registered holder

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	Number & class of securities

⁺ See chapter 19 for defined terms.

Part 3 - Director's interests in contracts

Details of contract
Nature of interest
Name of registered holder (if issued securities)
Number and class of securities to which interest relates

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⁺ See chapter 19 for defined terms.