EMERALD RESOURCES NL — Regulatory Filings 2007

May 6, 2007

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

7 May, 2007

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

CHANGE OF DIRECTORS INTEREST NOTICES - APPENDIX 3Y

Please find attached the Appendix 3Y "Change of Director's Interest Notices" for Emerald Oil and Gas NL.

Thank you.

Yours faithfully,

. a A

John Hannaford Company Secretary

Rule 3.19.4.2

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
1A BN	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	27/07/2006

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	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Securities held by Riverview Corporation Pty Ltd. Mr Hannaford is a Director and shareholder. Relevant interest arises under Section 608(3) of the Corporations Act.)
Date of change	3/05/2007 & 4/5/2007
No. of securities held prior to change	Direct 1) John Hannaford 1,188,042 Ord Shares Indirect 2) Emma Hannaford (spouse) 1,188,042 Ord Shares 3) Riverview Corporation 173,529 Ord Shares 100,000 Listed Options exercisable at 20c exercisable on or before 31/05/08

⁺ See chapter 19 for defined terms.

No. of securities held prior to change (cont'd)	4) Ventnor Capital Pty Ltd 1,500,000 Options exercisable at 25 cents each expiring at or before 28 February 2010 750,000 Options exercisable at 25 cents each expiring at or before 31 December 2008 750,000 Options exercisable at 30 cents each expiring at or before 31 December 2009
Class	a) Ord shares
Number acquired	Riverview Corporation Pty Ltd a) 100,000 Ord Shares
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$22,000.00
No. of securities held after change	1) John Hannaford 1,188,042 Ord Shares 2) Emma Hannaford (spouse) 1,188,042 Ord Shares 3) Riverview Corporation Pty Ltd 273,529 Ord Shares 100,000 Listed Options exercisable at 20c exercisable on or before 31/05/08 4) Ventnor Capital Pty Ltd 1,500,000 Options exercisable at 25 cents each expiring at or before 28 February 2010 750,000 Options exercisable at 25 cents each expiring at or before 31 December 2008 750,000 Options exercisable at 30 cents each expiring at or before 31 December 2009
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On market trade

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	$\mathcal{L}$

Nature of interest
Name of registered holder (if issued securities)
Date of change
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

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
JABN	79 009 795 046

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	. Robert James Berven
Date of last notice	13/4/2007

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	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Securities held by Zadar Holdings Pty Ltd. Mr Berven is a Director and shareholder. Relevant interest arises under Section 608(3) of the Corporations Act.)
Date of change	04/05/07

No. of securities held prior to change	Direct
	$\bf{1}$ Robert Berven
	10,000 ordinary shares
	10,000 listed options exercisable at 20 cents expiring at or before
	31 May 2008
	Indirect
	Zadar Holdings Pty Ltd 2)
	3,019,054 ordinary shares
	20,000 listed options exercisable at 20 cents expiring at or before 31 May 2008
	500,000 unlisted options exercisable at 25 cents expiring at or before 31 December 2008
	500,000 unlisted options exercisable at 25 cents expiring at or before 28 February 2010
	Berven Consultants Pty Ltd 3)
	10,000 ordinary shares
	10,000 listed options exercisable at 20 cents expiring at or before 31 May 2008
	Holdings with Spouse and/or family members 4) 80,000 ordinary shares
	80,000 listed options exercisable at 20 cents expiring at or before 31 May 2008
Class	Ordinary shares
Number acquired	20,000
Number disposed	$\overline{\phantom{a}}$
Value/Consideration	\$4,300.00
Note: If consideration is non-cash, provide details and estimated valuation

$+$ See chapter 19 for defined terms.

No. of securities held after change	Direct
	Robert Berven 1)
	10,000 ordinary shares
	10,000 listed options exercisable at 20 cents expiring at or
	before 31 May 2008
	Indirect
	Zadar Holdings Pty Ltd 2)
	3,039,054 ordinary shares
	20,000 listed options exercisable at 20 cents expiring at or
	before 31 May 2008
	500,000 unlisted options exercisable at 25 cents expiring at or before 31 December 2008
	500,000 unlisted options exercisable at 25 cents expiring at or before 28 February 2010
	Berven Consultants Pty Ltd 3)
	10,000 ordinary shares
	10,000 listed options exercisable at 20 cents expiring at or
	before 31 May 2008
	Holdings with Spouse and/or family members 4)
	80,000 ordinary shares
	80,000 listed options exercisable at 20 cents expiring at or
	before 31 May 2008
Nature of change Example: on-market trade, off-market trade, exercise of	On market trade
options, issue of securities under dividend reinvestment
plan, participation in buy-back

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 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