Emerald Oil reports plans to conduct private placement of common stock

Company sells 2.03 million shares to WDE Emerald and White Deer Energy

By Devika Patel

Knoxville, Tenn., May 15 - Emerald Oil, Inc. arranged a private placement of common stock with WDE Emerald Holdings LLC and White Deer Energy FI LP on May 13, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

The company will sell about 2,029,400 common shares. The price per share will be equal to the gross price per share of the stock offered in the company's concurrent planned public offering, less 80% of the underwriting discounts and commissions.

Emerald is a Denver-based oil exploration and production company.

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