Fortbridge Media Release

Emerald Oil & Gas [ASX: EMR] - Drilling commenced on Williston Basin Bakken Oil Well in Dunn Co, North Dakota

Highlights:
* Drilling operations commenced on second horizontal Bakken oil well in recently acquired Dunn Co acreage in Williston Basin, North Dakota, USA;
* Emerald planning its first operated Bakken oil well in Dunn County for around year end.

Emerald Oil & Gas NL (ASX: EMR) has elected to participate in the Halliday 2-15-22H oil well, with a 7.5% Working Interest(WI). The well will be drilled as a horizontal Bakken oil producer and will be completed with multi-stage hydraulic fracture treatments. Drilling operations on Hunt Halliday 2-15-22H commenced 17 April 2012 and the well is anticipated to be completed by the end of Q2 2012. Emeralds contribution to completed well costs will be $US615,000.

Emerald�s US subsidiary, Emerald Oil Inc, is also currently working with North Plains Energy to plan Emerald�s first operated Bakken well, which is expected to be drilled around the end of 2012.

Please see more on the attached announcement.

For further information, please contact:

Mike Krzus
Managing Director

Tel: +61 8 9482 0510
Fax: +61 8 9482 0505

Email:

Media/investor enquiries:

Peter-John Lewis
Fortbridge
+61 2 9003 0477
+61 416 290 604