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EMERALD RESOURCES NL Regulatory Filings 2007

Apr 23, 2007

64849_rns_2007-04-23_b4a1cecb-a9a4-4312-b23b-dcfed25430f6.pdf

Regulatory Filings

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Level 2, 16 Altona Street West Perth WA 6005 Ph: +618 9482 0500 Fx: +618 9482 0505 Email: [email protected] www.emeraldoilandgas.com

24 April 2007

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

DRILLING UPDATE - CORRECTION

With reference to the announcement dated 24 April 2007 "Drilling Update" Emerald Oil & Gas NL hereby advises a correction to the Current Activities for the NW Alice Prospect, in Jim Wells County, Texas, as below:

As announced

Current Activities:

Perforated and fracture treated the Yegua-15 (Y-4) sand from 7796-7710 feet.

Corrected

Current Activities:

Perforated and fracture treated the Yequa-15 (Y-4) sand from 7696-7710 feet (14 feet).

For more information please contact:

Tel: +618 9482 0510 Emerald Oil & Gas NL

JOHN HANNAFORD Executive Director - Finance [email protected]

BOB BERVEN Executive Director - Technical [email protected]

Information in this announcement pertaining to exploration potential was compiled by Robert Berven, Emerald Oil & Gas NL's Technical Director who is a Member of the Australasian Institute of Mining and Metallurgy and the American Association of Petroleum Geologists CPG # 2498.

Statements regarding Emerald's plans with respect to its petroleum properties are forwardlooking statements. There can be no assurance that Emerald's plans for development of its petroleum properties will proceed as currently expected. There can be no assurance that Emerald will be able to confirm the presence of additional petroleum deposits, that any discovery will prove to be economic or that an oil or gas field will successfully be developed on any of Emerald's petroleum properties.