EMERALD RESOURCES NL — Regulatory Filings 2012

Apr 12, 2012

13 April 2012
3 (including this page)
Company Announcements
Australian Securities Exchange
Fax 1300 135 638
Company Secretary
Emerald Oil & Gas NL
Fax (08) 9482 0505

Dear Sir/Madam

Form 604 Notice of change of interests of substantial holder

Attached is a Form 604 Notice of change of interests of substantial holder for Libra Fund II (Luxembourg) S.a.r.l., Libra Advisors LLC, Libra Fund LP, and Libra Offshore Master Fund LP in respect of Emerald Oil & Gas NL (ASX code: EMR).

Yours faithfully Corrs Chambers Westgarth

Com Clember ustgott.

attachments

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6599300/1

Z002/003

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To: Company Name/Scheme ACN/ARSN	Emerald Oil & Gas NL 009 795 046
1. Details of substantial holder (1)
Name	Libra Fund II (Luxembourg) S.a.r.I, Libra Advisors LLC, Libra Fund LP and Libra Offshore Master Fund LP
ACN\ARSN (if applicable)	N/A
There was a change in the interests of the
substantial holder on	23/12/11
The previous notice was given to the company on	30/08/11
The previous notice was dated	29/08/11

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinary shares	137.050.000	17.45% . _	131.016.000	14.58%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate 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	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
29 September 2011	Libra Advisors LLC and Libra Fund LP	Sale of shares	\$0.032 per ordinary share	5,370,260 ordinary shares	5,370,260
29 September 2011	Libra Advisors LLC and Libra Offshore Master Fund LP	Sale of shares	\$0.032 per ordinary share	663,740 ordinary shares	663,740
23 December 2011	Libra Advisors LLC, Libra Fund LP and Libra Offshore Master Fund LP	Dilution arising from the issue of shares as set out in an Appendix 3B lodged by the company on 3 January 2012.	Nil	131.016.000 ordinary shares	131,016,000
10 January 2012	Libra Advisors LLC, Libra Fund LP and Libra Offshore Master Fund LP	Dilution arising from the issue of shares as set out in an Appendix 3B lodged by the company on 11 January 2012.	Nil	131,016,000 ordinary shares	131,016,000
$1$ and $3$ February 2012	Libra Advisors LLC, Libra Fund LP and Libra Offshore Master Fund LP	Dilution arising from the issue of shares as set out in an Appendix 3B lodged by the company on 3 February 2012.	Nit	131,016,000 ordinary shares	131,016,000
1.7 and on or about 13 March 2012	Libra Advisors LLC, Libra Fund LP and Libra Offshore Master Fund LP	Dilution arising from the issue of shares as set out in an Appendix 3B lodged by the company on 8 March 2012.	Nil	131,016,000 ordinary shares	131,016,000

604 16 July 2001 page 2/2

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securitles	Person entitled to be registered as holder (8)	Nature of relevant Interest (6)	Class and number of securities	Person's votes
Libra Fund LP	Citicorp Nominees Pty Limited	Citicorp Nominees Pty Limited	Relevant Interest under section 608(1) of the Corporations Act.	116,909,340 ordinary shares	116.909.340
Libra Offshore Master Fund ۱P	Citicorp Nominees Pty Limited	Citicorp Nominees Pty Limited	Relevant interest under section 608(1) of the Comprehens Ask	14,106,660 ordinary shares	14,106,660

5. Changes in association

1. Present relevant Interests

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

---------- Name ano able m -- . . NIAE æ me ---	----- _________ Nature ation -------------------------------------- ---
ΝP	_____ NJA --- ------------- --------------- ______ _________ .

6. Addresses

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

Name	Address
Libra Fund II (Luxembourg) S.a.r.I.	5, Rue Guillaume Kroll - BP 2501, Luxembourg, Grand Duchy of Luxembourg, L-1025
Libra Advisors LLC	Level 27, 777 Third Ave, New York, New York 10017 USA
Libra Fund LP	Level 27, 777 Third Ave, New York, New York 10017 USA
Libra Offshore Master Fund LP	c/o Cayman Management Ltd. Ground Floor, Harbots Centre, PO Box 1569 George Town, Grand
	Cäyman KY1-1110, Cayman Islands

6591876/1