EMERALD RESOURCES NL — Regulatory Filings 2012

Sep 17, 2012

Re:	ASIC Form 605 - Notice of ceasing to be a substantial holder
Pages (w/cover): $3.$
From:	Bill Fuggle	Ref:	1817568-v1
To:	Australian Securities Exchange Company Announcements Office	Fax:	1300 135 638
Date:	18 September 2012
			Tel: +61 2 9225 0200 Fax: +61 2 9225 1595 DX: 218 SYDNEY www.bakermckenzie.com
			P.O. Box R126 Royal Exchange NSW 1223 Australia
			AMP Centre Level 27 50 Bridge Street Sydney NSW 2000 Australia
「そんだたいのがないとはない			Baker & McKenzie ABN 32 266 778 912
医不安性的 人名卡 BAKER & MYKENZIE			Facsimile Transmission

Dear Sir,

We enclose ASIC Form 605 (Notice of ceasing to be a substantial holder) in respect of Global Opportunities Fund Ltd. SPC, Segregated Portfolio M and Evolution Capital Management LLC's holding of share in Emerald Oil & Gas NL (Asx Code: EMR).

Baker & McKenzie

pp-Appt

Bill Fuggle Partner +61 2 8922 5100 bill.fuggle@bakermckenzie.com

Other contact: Emma Hunter Associate +61 2 8922 5744 emma.hunter@bakermckenzie.com

Privacy and Confidentiality Notice

The information contained in this facsimile is intended for the named recipients only. It may contain privileged and confidential information, and if you are not an intended recipient, you must not copy, distribute or take any action in reliance on it. If you have received this facsimile in error, please notify us immediately by collect telephone call and return the original to the sender by mail. We will reimburse you for the postage.

Baker & McKenzie, an Australian Partnership, is a member of Baker & McKenzie International, a Swiss Verein. 1817763-v1\SYDDMS

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$F$ orm 605

Corporations Act 2001
Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	Emerald Oil & Gas NL (EMR.AX)
ACN/ARSN	009 795 046
1. Details of substantial holder (1)
Name	Global Opportunities Fund Ltd. SPC, Segregated Portfolio M and Evolution Capital Management LLC (Shareholder)
ACN/ARSN (if applicable)
The holder ceased to be a substantial holder on	[14/09/2012] [27/10/2011]
The previous notice was given to the company on
The previous notice was dated	[28/10/2011]

1. 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

Date of change	Person whose relevant interest changed	Nature of change (4)	Consideration given in relation to changes (5)	Class (6) and number of securitios affected	Porson's votes affected
114/09/ 2012]	Global Opportunities Fund Ltd. SPC. Segregated Portfolio M and Evolution Capital Management LLC.	The Issue of shares in EMR.AX has resulted in the Shareholder ceasing to have a "substantial holding" as defined in s9 of the Corporations Act 2001 Cth.	NII	46,009,263 ordinary shares held b٧ Shareholder as at September 2012	46.009.263 ordinary shares held Ъv Shareholder as at September 2012 means tha Shareholder now has a 4.8757% holding in EMR.AX.

3. Changes in association

The persons who have become associates (3) of, ceased to be essociates 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 fo

. --- Name and ACN/ARSN (if applicable) ----	-- Nature of association .
--------- --- N/A	N/A ومستعب

4. Addresses

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

Name	Address
Emerald Oil & Gas NL (EMR.AX)	Suite 2, 12 Parliament Place, West Perth. Westem Australia 6005
Evolution Capital Management LLC	2425 Olympic Boulevard, Suite 120E, Santa Monica, CA, United States 90404

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	Global Opportunities Fund Ltd. SPC, Segregated Portfolio M	C/O Evolution Capital Management LLC, 2425 Olympic Boulevard, Sulte 120E, Santa Monica, CA, United States 90404
Signature		Authorized Stanatory
	print name	capacity
	sign here	12M2 date $9/19$ .
	START COMPANY

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