Fortbridge Media Release

Emerald Oil & Gas [ASX: EMR] - Quarterly activities and cashflow report for March 2012

Emerald Oil & Gas (ASX:EMR) has released its quarterly activities and cashflow report for the quarter ended March 31, 2012.

Highlights:

USA

Williston Basin, North Dakota
* 10,500 net lease acres including one producing Bakken oil well acquired in Dunn Co, North Dakota acquired for US$11.85m
* Second Bakken well currently drilling and first Emerald operated well planned for late 2012.
* On 26 March 2012, Emerald announced it was in discussions (Letter of Intent) in relation to a potential acquisition of producing acreage of ~$150m transaction value. The discussions have now been terminated.

Green River Basin, Colorado/Wyoming
* Additional 8,400 net lease acres acquired in the Sandwash Basin Niobrara Shale oil play (Green River Basin), located in Colorado
* Multi-zone fracture stimulation treatments and horizontal laterals planned for existing wellbores and new wells being permitted as part of 2012 Sandwash Basin Niobara work program

CORPORATE

* Share placement completed through a series of placements to sophisticated and institutional investors raising circa $3.1m.
* Laurie Shervington resigned as alternate director for Jeremy Shervington.

Click here to view the full report:

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