EMERALD RESOURCES NL — Share Issue/Capital Change 2010

Sep 16, 2010

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Suite 2, 12 Parliament Place West Perth WA 6005 Ph: +618 9482 0510 Fax: +618 9482 0505 Email: info@emeraldoilandgas.com www.emeraldoilandgas.com

17 September, 2010

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

Allotment of Entitlement Issue Securities

With reference to the Appendix 3B lodged on 6 August 2010, Emerald Oil & Gas NL has today allotted a total of 127,500,000 ordinary shares and 73,750,000 options exercisable at 5 cents expiring on 31 August 2012, for which ASX quotation has been applied for by the Company.

The new capital structure of the company is as follows:

The new capital structure of the company is as follows:
Type of Securities	#
Fully paid ordinary shares	270,303,764
Listed Options exercisable at 5c each expiring on 31 August 2012	78,750,000
Unlisted Options exercisable at 17.68c each expiring on 23 January	661,638
2011
Unlisted Options exercisable at 25c each expiring on 31 May 2011	2,000,000
Unlisted Options exercisable at 10c each expiring on 31 March 2014	5,000,000
Unlisted Options exercisable at 10c each expiring on 30 June 2012	11,661,115

Attached are the new top 20 share and option holder reports and distribution reports for shares and listed options.

Yours faithfully,

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Morgan Barron Company Secretary

For more information please contact: Emerald Oil & Gas NL

Tel: +618 9482 0510

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EMERALD OIL & GAS NL ORDINARY SHARES HOLDER NAMEDESIGNATION 1 * KLIP PL BEIRNE S/F A/C2 SEASPIN PL APHRODITE A/C3 * HSBC CUSTODY NOM AUST LTD4 BURTON CRAIG IAN BURTON S/F A/C5 UBS WEALTH MGNT AUST NOM6 * ZADAR HLDGS PL7 CALDWELL MGNT AG8 * BOUTA PL9 * DRUM GAGHAN PL10 * GREATCITY PL RICHARD MONTI A/C11 KRZUS MICHAEL12 INVERMAY NOM PL INVERMAY NOM A/C13 ZENITH PACIFIC LTD14 * CADEX PETROLEUM PL15 LYDEAMORE SHARON TERESA16 CHERYL PEARSE ENTPS PL17 * VISSER TERRY + HAFIDAH18 BOUTA PL JB MARTEL PRACTICE19 * GERRITZEN J T + E A GERRITZEN FAM A/C20 * DICK COOPER EXPL PL DICK COOPER FAM A/*** TOP 20 TOTAL ***** ALL HOLDERS INCLUDED * - DENOTES MERGED HO		TOP 2	0 LIST	INGDate - 17/09/10 % OF ISSUED7.29%5.55%5.07%4.62%2.95%2.92%2.60%2.33%2.28%2.00%1.85%1.85%1.85%1.78%1.59%1.20%1.12%1.11%1.09%1.04% 52.09%
		UNITS 19,718,30715,000,00013,702,74012,500,0007,961,7737,896,9467,038,8266,296,6466,175,9155,415,4805,000,0005,000,0005,000,0004,798,8844,290,2953,250,0003,038,0002,990,1982,940,0002,819,054	UNITS
		140,833,064
	L	DER

EMERALD OIL & GAS NL 31/08/12 5C OPTIONS         TOP  20 LISTING     Date - 17/09/10

123 *45 *6789 *1011 *12 *131415 *1617181920*** ALL	HOLDER NAME CALDWELL MGNT AGSEASPIN PLHSBC CUSTODY NOM AUST LTDBURTON CRAIG IANKLIP PLKRZUS MICHAELINVERMAY NOM PLZENITH PACIFIC LTDZADAR HLDGS PLUBS WEALTH MGNT AUST NOMDRUM GAGHAN PLGREATCITY PLMITCHELL W M + D JKINGSLANE PLFLUE HLDGS PLBRIMAGE REUBEN KANEMITCHELL BRETT + MBLU BONE PLDAVIES ROBERT FRANCISWISE DANIEL PAUL** TOP 20 TOTAL ***HOLDERS INCLUDED	HOLDER NAME CALDWELL MGNT AGSEASPIN PLHSBC CUSTODY NOM AUST LTDBURTON CRAIG IANKLIP PLKRZUS MICHAELINVERMAY NOM PLZENITH PACIFIC LTDZADAR HLDGS PLUBS WEALTH MGNT AUST NOMDRUM GAGHAN PLGREATCITY PLMITCHELL W M + D JKINGSLANE PLFLUE HLDGS PLBRIMAGE REUBEN KANEMITCHELL BRETT + MBLU BONE PLDAVIES ROBERT FRANCISWISE DANIEL PAUL** TOP 20 TOTAL ***HOLDERS INCLUDED	HOLDER NAME CALDWELL MGNT AGSEASPIN PLHSBC CUSTODY NOM AUST LTDBURTON CRAIG IANKLIP PLKRZUS MICHAELINVERMAY NOM PLZENITH PACIFIC LTDZADAR HLDGS PLUBS WEALTH MGNT AUST NOMDRUM GAGHAN PLGREATCITY PLMITCHELL W M + D JKINGSLANE PLFLUE HLDGS PLBRIMAGE REUBEN KANEMITCHELL BRETT + MBLU BONE PLDAVIES ROBERT FRANCISWISE DANIEL PAUL** TOP 20 TOTAL ***HOLDERS INCLUDED	DESIGNATION APHRODITE A/C BURTON S/F A/CBEIRNE S/F A/C INVERMAY NOM A/C	DESIGNATION APHRODITE A/C BURTON S/F A/CBEIRNE S/F A/C INVERMAY NOM A/C	UNITS 13,519,4137,500,0006,298,1806,250,0004,875,5042,500,0002,500,0002,500,000	UNITS 13,519,4137,500,0006,298,1806,250,0004,875,5042,500,0002,500,0002,500,000	UNITS	% OF ISSUED17.17%9.52%8.00%7.94%6.19%3.17%3.17%3.17%	% OF ISSUED17.17%9.52%8.00%7.94%6.19%3.17%3.17%3.17%	% OF ISSUED17.17%9.52%8.00%7.94%6.19%3.17%3.17%3.17%
		AR HLDGS PLWEALTH MGNT AUSM GAGHAN PLATCITY PLCHELL W M + D J	T NOM			11111	,933,946,851,863,512,469		2.46%2.35%1.92%1.68%1.59%
				RICHARD
					MONTI A/CL S/F A/C		,326,240,250,000
				MITCHEL
		GSLANE PLE HLDGS PLMAGE REUBEN KANECHELL BRETT + MBONE PLIES ROBERT FRANCIS		CRANSTO MITCHELSHARE TR & Y D	SUPER A/C L SPRING FARADING A/CAVIES S/F A	111111	,250,000,250,000,250,000,250,000,250,000250000		1.59%1.59%1.59%1.59%1.59%159%
		E DANIEL PAULTOP 20 TOTAL ***DERS INCLUDED		ARK INV * - D	A/C NOTES MERGED H	1	,,,250,000		.1.59%79.46%
						62	,567,615
						LDER

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EMERALD OIL & GAS NL ORDINARY SHARES

	SPREADOF HOLDINGSHOLDERS NIL HOLDING1 - 1,000 2831,001 - 5,000 995,001 - 10,000 24910,001 - 100,000 591100,001 - 196 TOTAL ON REGISTER 1418 TOTAL OVERSEAS HOLDERS 47ANALYSIS BY LOCATION(EXCLUDES ZERO HOLDERS)OVERSEAS 47AUSTRALIA :ACT 13NSW 251VIC 287QLD 149SA 87WA 523TAS 18NT 13ADDRESS UNKNOWN30 1418	UNITS 45,056332,5241,825,09320,317,576247,783,515 270,303,764 22,622,65922,622,659795,21670,878,46827,678,8979,181,4974,025,385132,131,234725,7571,299,308 965,343 270,303,764	%	OF IS	SUEDCAPITAL.02 %.12 %.68 %7.52 % 91.67%100.00%8.37 %8.37 %.29 %26.22 %10.24 %3.40 %1.49 %48.88 %.27 %.48 % .36%100.00%

EMERALD OIL & GAS NL 31/08/12 5C OPTIONS

SPREAD OF HOLDINGS                       HOLDERSUNITS%OF ISSUED CAPITAL

	NIL HOLDING1 - 1,000 571,001 - 5,000 655,001 - 10,000 6310,001 - 100,000 63100,001 -50 TOTAL ON REGISTER 298 TOTAL OVERSEAS HOLDERS 10ANALYSIS BY LOCATION(EXCLUDES ZERO HOLDERS)OVERSEAS 10AUSTRALIA :ACT 1NSW 50VIC 59QLD 22SA 20WA 130TAS 4NT 2ADDRESS UNKNOWN0298	7,547213,859462,2802,255,76375,810,551 78,750,000 17,631,73517,631,7354,80015,058,8673,902,6051,481,1401,187,72239,410,65672,373102 78,750,000			.01 %.27 %.59 %2.86 % 96.27%100.00%22.39 %22.39 %.01 %19.12 %4.96 %1.88 %1.51 %50.05 %.09 %.00 % .00%100.00%

  ** ALL HOLDERS INCLUDED                  ***  COMMON HOLDERS MERGED INTO ONE HOLDING