Emerald Energy Plc

FOR IMMEDIATE RELEASE

Emerald Energy Plc (“Emerald” or “the Company”)

13 July 2007

ISSUE OF CONVERTIBLE BONDS

Emerald Energy Plc (“Emerald” or the “Company”) is pleased to provide the following update:

Further to the announcement made on 4 July 2007, Credit Suisse Securities (Europe) Limited (“Credit Suisse”) has subscribed for Series A and Series B senior unsecured convertible bonds for a total consideration of US$30 million.

Series A bonds, due January 2012, issued at an aggregate principal amount of US$15 million, pay a coupon of 5.875 per cent and are convertible into ordinary shares of the Company at 290 pence per share.

Series B bonds, due January 2013, issued at an aggregate principal amount of US$15 million, pay a coupon of 4.875 per cent and are convertible into ordinary shares of the Company at 270 pence per share.

The bonds were issued and are redeemable at par value. The bonds are redeemable at the Company’s option, subject to certain conditions, from July 2010.

Angus MacAskill, the Company’s Chief Executive, commented: “We are very pleased to have completed this financing which provides Emerald with the financial resources to actively pursue its projects.”

Enquiries: Helen Manning 020 7925 2440