EMERALD RESOURCES NL — Regulatory Filings 2007

Jul 2, 2007

OIL & GAS NL

Level 2, 16 Altona Street West Perth WA 6005
Ph: 08 9482 0500 Fx: 08 9482 0505 Em: jhannaford@emeraldoilandgas.com

3 July, 2007

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

NOTICE OF CEASING TO BE A SUBSTANTIAL SHAREHOLDER

Please find attached 2 x Form 605 "Notice of ceasing to be a substantial holder" for Emerald Oil & Gas NL, arising following the issue of securities pursuant to a placement.

Yours faithfully,

_ a A

John Hannaford Company Secretary

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	Emerald Oil and Gas NL _____
ACN/ARSN	009 795 046______
1. Details of substantial holder (1)
Name	John Hannaford
ACN/ARSN (if applicable)	N/A
The holder ceased to be a substantial holder on	02 / 07 / 07
The previous notice was given to the company on	26 / 06 / 06
The previous notice was dated	26 / 06 / 06

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Name of change $(4)$	Consideration given in relation to change $(5)$	Class $(6)$ and numbers of securities affected	Person's votes affected
2 July 07	Riverview Corporation Pty Ltd John Hannaford Emma Hannaford	Dilution due to placement	N/A.	2,649,613	4.25%

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association

4. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Riverview Corporation Pty Ltd/John Hannaford/Emma Hannaford	3 Minim Close, Mosman Park WA 6012

Signature

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eq. a corporation and its related $(1)$ corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 4 of the form.
• $(1)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• $(3)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If $(a)$ subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• $(b)$ any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• $(4)$ Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• $(5)$ The voting shares of a company constitute one class unless divided into separate classes.
• $(6)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	Emerald Oil and Gas NL______
ACN/ARSN	009 795 046______
1. Details of substantial holder (1)
Name	Dick Cooper
ACN/ARSN (if applicable)	Dick Cooper Exploration Pty Ltd ATF The Dick Cooper Family Trust
The holder ceased to be a substantial holder on	02 /07 /07
The previous notice was given to the company on	26 / 06 / 06
The previous notice was dated	26 / 06 / 06

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Name of change $(4)$	Consideration given in relation to change $(5)$	Class (6) and numbers of securities affected	Person's votes affected
2 July 07	Dick Cooper Exploration Pty Ltd ATF The Dick Cooper Family Trust	Dilution due to placement	N/A.	2,819,054	4.52%

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association

4. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Dick Cooper Exploration Pty Ltd ATF The Dick Cooper Family Trust	1/232 Burke Drive, Attadale WA 6158

Signature

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eq. a corporation and its related $(1)$ corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 4 of the form.
• $(1)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $(3)$ Include details of:
• $(a)$ any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• $(b)$ any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• $(4)$ Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• $(5)$ The voting shares of a company constitute one class unless divided into separate classes.
• Give details, if appropriate, of the present association and any change in that association since the last substantial $(6)$ holding notice.