Emerald Oil (EOGSF) 8-K Regulation FD Disclosure

Exhibit 99.1

UNITED STATES BANKRUPTCY COURT

DISTRICT OF DELAWARE

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
	Reporting Period: July 2016

MONTHLY OPERATING REPORT

File with Court and submit copy to United States Trustee within 20 days after end of month

Submit copy of report to any official committee appointed in the case.

		Document	Explanation	Affidavit/Supplement
REQUIRED DOCUMENTS	Form No.	Attached	Attached	Attached
Schedule of Cash Receipts and Disbursements	MOR-1	X
Bank Reconciliation (or copies of debtor's bank reconciliations)	MOR-1a	X
Schedule of Disbursements by Debtor Entity	MOR-1b	X
Schedule of Professional Fees and Expenses Paid	MOR-1c	X
Copies of bank statements	MOR-1d	X
Cash disbursements journals	MOR-1e	X
Statement of Operations	MOR-2	X
Balance Sheet as of Petition Date	MOR-3a	X
Balance Sheet as of Month End	MOR-3b	X
Status of Postpetition Taxes	MOR-4a	X
Copies of IRS Form 6123 or payment receipt			X
Copies of tax returns filed during reporting period			X
Summary of Unpaid Postpetition Debts	MOR-4b	X
Listing of aged accounts payable	MOR-4b	X
Accounts Receivable Reconciliation and Aging	MOR-5	X
Debtor Questionnaire	MOR-5	X

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.

Signature of Debtor	Date
Signature of Joint Debtor	Date
Signature of Authorized Individual*	Date
Printed Name of Authorized Individual	Title of Authorized Individual

*Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

MOR

(04/07)

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: July 2016

MOR - 1

Schedule of Cash Receipts and Disbursements(1)

For the Period July 1, 2016 through July 31, 2016

(Unaudited)

	Total Debtors
Beginning Cash	$	9,233,408
Receipts:
Gross Receipts (2)		6,300,550
Total Receipts		6,300,550
Disbursements (3):
Operating Expenses		2,760,307
Royalties		1,668,459
Payroll, Payroll Taxes and Benefits		394,704
Severance & Other Taxes		543,172
Professional Fees		2,258,683
Interest and Bank Fees		93,977
Total Disbursements		7,719,301
Net Cash Flow		(1,418,752	)
Ending Cash Balance	$	7,814,656

Notes:

(1) This statement includes all entities controlled by the Debtors and therefore represents the consolidated financial results of Emerald Oil. Due to the consolidated cash management reporting system, certain cash payments may be paid out of a legal entity that is different than the legal entity where the expenses were incurred. Total disbursements by entity are provided in Schedule 1b.

(2) Gross Receipts include receipts of revenue from the production of oil, natural gas and NGLs, including revenue receipts on properties in which the Debtors have joint ownership. The operating receipts are presented on a gross basis, which includes third party revenue that is subsequently disbursed by the Company to the working interest owners for their portion of the revenue.

(3) Disbursements are presented on a gross basis and include outstanding post-petition checks from operating accounts as of the reporting date.

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: July 2016

MOR-1a

Debtors Statement with respect to Bank Account Reconciliations, Bank Statements and Cash Disbursements Journal

For the Period July 1, 2016 through July 31, 2016

(Unaudited)

Bank Account Reconciliations and Cash Disbursements

The Debtors affirm that bank reconciliations are prepared for all open and active bank accounts on a monthly basis. The Debtors affirm that within its financial accounting systems, check registers and/or disbursement journals are maintained for each disbursement account.

Bank Statements

The Debtors affirm that bank statements for all open and active bank accounts are retained by the Debtors. The Debtors affirm that no bank accounts were closed during the current reporting period.

	16-10704			16-10708		16-10704		16-10704		16-10704
Debtor	Emerald Oil, Inc.			EOX Marketing, LLC		Emerald Oil, Inc.		Emerald Oil, Inc.		Emerald Oil, Inc.
Type	Operating			Operating		Utility		Employee Medical Claims		Professional Fees
Account Number (last 4 digits only)	#	0166		#	0112	#	4612	#	6810	#	7214
Balance Per Books	$	(293,678	)	$	5,052,473	$	3,196	$	44,940	$	3,007,725
Bank Balance	$	2,433,529		$	5,052,473	$	3,196	$	44,940	$	3,007,725
(+) Deposits in transit (attach list)		-			-		-		-		-
(-)  Outstanding checks (attach list)		2,727,207			-		-		-		-
Other  (attach explanation)		-			-		-		-		-
Adjusted Bank Balance*	$	(293,678	)	$	5,052,473	$	3,196	$	44,940	$	3,007,725

* Adjusted bank balance must equal balance per books

Checks Outstanding	Ck. #		Amount
		213374		233.04
		213386		1,938.81
		213769		263.44
		213779		4,946.61
		213790		642.25
		213823		118.33
		213852		114.42
		213869		150.53
		213985		168.02
		214128		937.39
		112916		193.23
		214197		224.23
		214209		1,585.76
		214220		570.63
		214247		100.97
		214248		1,344.91
		214578		911.97
		113039		65.00
		113143		11,988.53
		214601		492.24
		214608		445,884.02
		214609		333.06
		214624		591.05
		214634		530.93
		214655		299.28
		214679		104.21
		214685		120.25
		214697		106.80
		214710		308.70
		214723		243.75
		214728		106.77
		214763		100.38
		214767		312.91
		214771		208.92
		214805		996.52
		214810		6,512.24
		214826		1,584.90
		214837		182.25

FORM MOR-1a

(04/07)

Checks Outstanding	Ck. #		Amount
		214849		227.82
		214854		229.44
		214856		5,183.18
		214858		187.69
		214867		102.44
		214882		137.90
		214885		597.30
		214888		1,194.63
		214895		2,736.27
		214949		194.56
		214951		124.25
		214971		269.56
		214992		11,673.35
		214999		206.01
		215000		103.73
		215013		124.55
		215014		228.34
		215018		304.47
		215019		2,275.68
		215020		2,275.68
		215026		2,067.40
		215029		164.72
		215046		100.60
		215085		253.07
		215086		253.07
		215101		162.13
		215111		519.16
		215115		104.84
		215121		105.57
		113152		150,000.00
		113154		750.00
		113167		4,770.00
		113199		3,197.65
		113213		5,730.00
		113214		325.00
		113224		6,837.00
		113231		5,794.80
		113239		4,707.16
		113248		38.00
		113252		5,604.00
		113253		3,405.00
		113258		26,167.50
		215141		22,247.73
		215142		1,281.30
		215143		27,819.99
		215144		6,242.96
		215145		1,450.59
		215146		9,711.54
		215147		794.28
		215148		865.98
		215149		127.35
		215150		3,822.32
		215151		9,876.51
		215152		424.69
		215154		211.92
		215155		1,278.22
		215156		430,269.96
		215157		326.06
		215158		2,023.21
		215159		210.82
		215160		358.31
		215161		3,730.26
		215162		1,261.09
		215163		122.62
		215164		111.88
		215165		252.08
		215166		13,616.72
		215167		6,092.51
		215168		427.18
		215169		1,458.73
		215170		7,355.39

FORM MOR-1a

(04/07)

Checks Outstanding	Ck. #		Amount
		215171		2,292.11
		215172		656.76
		215173		14,021.28
		215174		8,787.20
		215175		343.16
		215176		1,582.78
		215177		1,582.78
		215178		1,760.58
		215179		663.17
		215180		101.41
		215181		184.51
		215182		369.04
		215183		592.16
		215184		72,432.50
		215185		4,985.52
		215186		5,982.65
		215187		12,495.53
		215188		5,177.05
		215189		9,823.38
		215191		18,123.47
		215192		1,591.13
		215193		847.03
		215194		824.89
		215195		2,412.39
		215196		200.10
		215197		103.36
		215199		151.88
		215200		15,250.79
		215202		1,378.43
		215203		323.86
		215204		11,455.14
		215205		3,929.89
		215206		8,016.20
		215207		6,238.63
		215208		8,912.13
		215209		2,309.51
		215210		358.20
		215211		134.28
		215212		3,248.98
		215213		1,946.07
		215214		155.50
		215215		596.10
		215216		3,114.60
		215217		110.90
		215218		545.36
		215219		131.67
		215220		113.86
		215221		4,317.53
		215222		157.28
		215223		263.09
		215224		300.43
		215225		138.24
		215226		157.27
		215227		7,117.91
		215228		659.47
		215229		794.33
		215230		324.36
		215232		1,395.18
		215233		336.46
		215234		665.57
		215235		10,642.63
		215236		1,887.47
		215237		2,640.99
		215238		2,322.61
		215239		324.36
		215240		1,072.20
		215241		184.67
		215242		346.55
		215243		101.76
		215244		177.07
		215245		915.73

FORM MOR-1a

(04/07)

Checks Outstanding	Ck. #		Amount
		215246		640.64
		215247		112.14
		215248		112.14
		215249		127.84
		215250		519.83
		215251		1,477.14
		215252		915.73
		215253		142.98
		215254		10,602.60
		215255		473.84
		215256		168.29
		215257		10,921.83
		215258		7,748.42
		215259		1,580.41
		215260		263.79
		215261		184.67
		215262		134.28
		215263		545.35
		215264		330.03
		215265		414.68
		215266		336.46
		215268		168.29
		215269		106.14
		215270		330.03
		215271		183.37
		215272		138.62
		215273		234.34
		215274		6,389.47
		215275		242.61
		215277		747.43
		215278		131.89
		215279		143.14
		215280		179.29
		215281		157.27
		215282		2,070.12
		215283		215.20
		215284		131.75
		215285		545.36
		215286		417.86
		215287		506.97
		215288		112.14
		215289		129.03
		215290		2,122.55
		215291		43,450.76
		215292		3,973.79
		215293		408.87
		215294		252.08
		215295		252.08
		215296		203.86
		215297		203.86
		215298		145.89
		215299		510.32
		215300		7,625.41
		215301		2,093.89
		215302		2,093.89
		215303		117.11
		215304		168.29
		215305		482.07
		215306		857.69
		215307		594.50
		215308		418.20
		215309		594.50
		215310		1,589.11
		215312		3,783.21
		215313		122.61
		215314		4,099.35
		215315		5,084.28
		215316		4,882.63
		215317		2,309.51
		215318		2,110.41
		215319		2,080.97

FORM MOR-1a

(04/07)

Checks Outstanding	Ck. #		Amount
		215320		13,448.75
		215321		6,568.05
		215322		6,568.05
		215323		6,568.04
		215324		3,474.68
		215325		1,428.53
		215326		1,282.33
		215327		1,282.33
		215328		857.81
		215329		824.30
		215330		824.30
		215331		831.27
		215332		824.30
		215333		831.27
		215335		5,387.58
		215336		1,795.83
		215337		1,795.83
		215338		1,853.14
		215339		2,850.96
		215340		107.20
		215341		1,953.29
		215342		1,533.21
		215343		113.43
		215344		309.79
		215345		1,352.38
		215346		554.10
		215347		327.65
		215348		201.07
		215349		374.99
		215350		467.55
		215351		389.64
		215352		467.55
		215353		554.10
		215354		655.27
		215355		259.76
		215356		219.30
		215357		389.64
		215358		3,324.78
		215359		259.76
		215360		554.10
		215361		143.13
		215362		143.69
		215363		259.76
		215364		103.88
		215365		103.88
		215367		147.49
		215368		259.76
		215369		850.17
		215370		554.10
		215371		327.65
		215372		1,662.35
		215373		554.10
		215374		147.50
		215375		138.53
		215376		850.17
		215377		554.10
		215378		129.91
		215379		212.54
		215380		149.14
		215381		259.76
		215382		389.64
		215383		4,939.98
		215384		219.30
		215385		259.76
		215386		4,939.98
		215387		877.28
		215388		107.20
		215389		554.10
		215390		259.76
		215391		843.02
		215392		195.96

FORM MOR-1a

(04/07)

Checks Outstanding	Ck. #		Amount
		215393		259.76
		215394		129.92
		215395		554.10
		215396		3,293.35
		215397		100.54
		215398		268.04
		215399		4,156.03
		215400		268.04
		215401		259.76
		215402		149.13
		215403		389.64
		215404		259.76
		215405		554.10
		215406		212.54
		215407		259.76
		215408		134.06
		215409		3,293.36
		215410		115.71
		215411		115.71
		215412		115.71
		215413		107.80
		215414		160.44
		215415		490.68
		215416		513.87
		215417		192.69
		215418		1,061.18
		215419		1,027.69
		215420		192.69
		215421		337.84
		215422		192.69
		215423		981.44
		215424		727.01
		215425		11,187.74
		215426		1,953.29
		215427		11,654.00
		215428		490.68
		215429		513.87
		215430		981.45
		215431		981.44
		215432		337.84
		215433		192.69
		215434		256.91
		215435		513.88
		215436		327.15
		215437		513.85
		215438		474.32
		215439		142.10
		215440		2,259.25
		215441		577.77
		215442		832.21
		215443		788.89
		215444		182.65
		215445		788.89
		215446		182.65
		215447		591.69
		215448		788.89
		215449		142.11
		215450		2,366.66
		215451		2,366.66
		215452		591.70
		215453		591.69
		215454		142.10
		215455		2,366.66
		215456		1,985.68
		215457		591.69
		215459		147.41
		215460		12,129.18
		215461		172.44
		215462		114.93
		215463		105.34
		215464		131.16

FORM MOR-1a

(04/07)

Checks Outstanding	Ck. #		Amount
		215465		981.45
		215466		1,027.69
		215467		2,805.62
		215468		163.21
		215469		310.49
		215470		316.13
		215471		2,321.40
		215472		2,321.40
		215473		1,547.61
		215474		1,547.61
		215475		1,547.62
		215476		4,642.87
		215477		158.28
		215478		3,060.49
		215479		133.16
		215480		133.16
		215481		1,538.44
		215482		248.66
		215483		3,290.70
		215484		248.66
		215485		102.01
		215486		102.01
		215487		97.74
		215488		133.16
		215489		499.13
		215490		3,290.70
		215491		2,539.08
		215492		137.47
		215493		8,108.21
		215494		248.66
		215495		424.69
		215497		97.74
		215498		1,432.02
		215499		133.16
		215500		2,539.08
		215501		149.15
		215502		311.87
		215503		302.24
		215504		311.87
		215505		197.83
		215506		2,388.67
		215507		779.26
		215508		103.88
		215509		134.19
		215510		313.44
		215511		18,049.30
		215512		134.19
		215513		152.89
		215514		687.39
		215515		245.37
		215516		245.38
		215517		245.37
		215518		1,465.40
		215519		108.62
		215520		1,495.26
		215521		425.03
		215522		425.02
		215523		2,217.41
		215524		2,151.95
		215525		4,669.53
		215526		134.19
		215527		1,136.52
		215528		60,757.01
		215529		7,268.06
		215530		7,268.05
		215531		140.00
		215533		17,047.87
		215534		1,122.18
		215535		179.82
		215536		1,495.38
		215537		2,212.84

FORM MOR-1a

(04/07)

Checks Outstanding	Ck. #		Amount
		215538		434.08
		215539		5,272.18
		215540		135.77
		215541		135.77
		215542		568.94
		215543		325.12
		215544		1,384.90
		215545		392.72
		215546		1,430.96
		215547		108.39
		215548		103.62
		215549		98.18
		215550		294.55
		215551		346.90
		215552		1,430.95
		215553		420.52
		215554		1156.13
		215555		103.91
		215556		392.72
		215557		3298.31
		215558		3298.31
		215561		6819.35
		215562		6819.58
		215563		536.09
		215564		10921.82
		215565		114.94
		215566		534.84
		215567		367.32
		215568		200.37
		215569		137.65
		215570		367.32
		215571		265.64
		215572		4657.27
		215573		115.82
		215574		1580.41
		215575		703.48
		215576		131.16
		215577		200.33
		215578		3293.35
		215579		131.16
		215581		1008.08
		215582		647.34
		215583		647.34
		215584		1495.37
		215585		647.34
		215586		1475.23
		215587		113.68
		215588		169.04
		215589		1008.08
		215590		983.5
		215591		169.04
		215592		983.5
		215593		221.19
		215595		221.19
		215596		169.04
		215597		169.04
		215598		95.59
		215599		5455.32
		215600		369.26
		215601		369.26
		215602		6045.29
		215603		829.89
		215604		829.89
		215605		829.89
		215606		829.89
		215607		12111.91
		215608		313.44
		215609		748.73
		215610		162.47
		215611		235.07
		215612		229.34

FORM MOR-1a

(04/07)

Checks Outstanding	Ck. #		Amount
		215613		162.47
		215614		166.54
		215615		162.47
		215616		748.73
		215617		305.79
		215618		392.32
		215619		296.79
		215620		1136.52
		215621		710.32
		215622		710.32
		215623		744.99
		215624		710.32
		215625		369.6
		215626		369.6
		215627		369.6
		215628		462.01
		215629		462.01
		215630		462.01
		215631		461.93
		215632		396
		215633		194.83
		215634		194.83
		215635		194.83
		215636		194.83
		215637		194.83
		215638		154
		215639		154
		215640		154
		215641		236.77
		215642		236.77
		215643		236.77
		215644		149.47
		215645		110.33
		215646		133.01
		215647		133.01
		215648		1395.18
		215649		260.34
		215650		490.68
		215651		490.69
		215652		213.59
		215653		424.69
		215654		102.38
		215655		106.05
		215656		147.53
		215657		688.15
		215658		140.12
		215659		356.21
		215660		2292.11
		215661		146.53
		215662		146.53
		215663		146.53
		215664		146.53
		215665		146.53
		215666		2217.41
		215667		133.48
		215668		137.48
		215669		5485.3
		215670		468.75
		215671		151.13
		215672		151.14
		215673		151.13
		215674		314.6
		215675		2252.69
		215676		306.11
		215677		306.72
		215678		111.84
		215679		389.64
		113260		14882.5
		113262		13013.5
		113263		10438
		113264		18182.9

FORM MOR-1a

(04/07)

Checks Outstanding	Ck. #		Amount
		113265		141.4
		113266		8921.6
		113267		674.8
		113268		7800
		113269		64101.03
		113271		3121.17
		113272		211.17
		113273		35037.57
		113275		22275
		113276		22806.8
		113277		383.34
		113279		173.8
		113280		1165.53
		113281		2694.53
		113282		16730
		113283		150
		113284		707
		113285		30000
		113286		325
		113287		9750
		113288		6500
		113289		325
		113290		218291.69
		113291		322
		113292		3952.75
		113293		14995
				2,727,206.70

FORM MOR-1a

(04/07)

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: July 2016

MOR - 1b

Schedule of Disbursements by Debtor Entity

For the Period July 1, 2016 through July 31, 2016

Unaudited

				Allocation
	Total Disbursements			Emerald Oil, Inc.		Emerald DB, LLC		Emerald NWB, LLC		Emerald WB, LLC		EOX Marketing, LLC		On Behalf of 3rd Parties
				16-10704		16-10705		16-10706		16-10707		16-10708
Trade	$	2,637,414	(2)	$	84,713	$	-	$	1,150,479	$	628,413	$	-	$	773,809
Severance Taxes		543,172	(2)		-		-		244,803		133,716		-		164,654
Royalties and other WI		1,668,459			-		-		-		-		-		1,668,459
Payroll, Payroll Taxes and Benefits		394,704	(3)		394,704		-		-		-		-		-
Rent & Utilities		70,128	(4)		70,128		-		-		-		-		-
Other		52,764	(5)		-		-		20,078		32,686		-		-
Professional fees		2,258,683	(6)		2,258,683		-		-		-		-		-
Interest and Bank Fees		93,977	(7)		93,056		-		-		-		920		-
Total:	$	7,719,301		$	2,901,285	$	-	$	1,415,360	$	794,814	$	920	$	2,606,922

Notes:

(1)Debtor in possession financing agreement was entered into by Emerald Oil, Inc.

(2) Allocated to the Debtors based on the estimate ownership of the underlying working interest in the properties.

(3) All individuals employed by Emerald Oil, Inc.

(4) Corporate office lease engaged by Emerald Oil, Inc.

(5) "Other' represents Insurance, which includes general commercial liability, workers’ compensation and employee benefits, allocated to Emerald Oil, Inc. as the covered items are directly related to the debtor entity.

(6)Debtor Professionals employed by Emerald Oil, Inc.

(7)RevolvingCredit Agreement and related fees/interest were entered into by Emerald Oil, Inc.

FORM MOR-1b

(04/07)

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: July 2016

MOR - 1c

Schedule of Professional Fees and Expenses Paid(1)

For the Period July 1, 2016 through July 31, 2016

(Unaudited)

					Check		Amount Paid
Payee	Period Covered	Amount Approved		Payor	Number	Date	Fees		Expenses
Debtor Bankruptcy Professionals
Kirkland & Ellis LLP	5/1/16 - 5/31/16	$	628,197	Emerald Oil, Inc.	113240	7/21/2016	$	596,189	$	32,008
Donlin Rencano & Company (Notice)	4/1/16 - 6/30/16		152,658	Emerald Oil, Inc.	wire	7/12/2016		109,126		43,533
Donlin Rencano & Company (Admin)	3/22/16 - 5/31/16		14,716	Emerald Oil, Inc.	multiple	multiple		14,716		-
Intrepid Financial Partners, LLC			-					-		-
Opportune LLP	5/1/16 - 5/31/16		284,127	Emerald Oil, Inc.	113208	7/13/2016		276,238		7,890
Pachulski Stang Ziehl &Jones LLP	3/22/16 - 4/30/16		117,009	Emerald Oil, Inc.	113247	7/21/2016		95,733		21,276
BDO LLP			-					-		-
Debtor Ordinary Course Professionals
EKS&H LLP			-					-		-
Fredrickson & Byron, P.A.			-					-		-
Vogel Law Firm	4/4/16 - 4/26/16		1,446	Emerald Oil, Inc.	113185	7/7/2016		1,446		-
Husch Blackwell LLP			-					-		-
Taylor Anderson LLP			-					-		-
Mayer Brown LLP			-					-		-
Lender Professionals
Luskin, Stern & Eisler LLP			-					-		-
Vinson & Elkins LLP	4/15/16 - 5/31/16		218,292	Emerald Oil, Inc.	113290	7/28/2016		204,957		13,335
Womble Carlyle Sandridge & Rice, LLP			-					-		-
FTI Consulting, Inc.	6/1/16 - 6/30/16		64,101	Emerald Oil, Inc.	113269	7/28/2016		64,069		32
UCC Professionals
Akin Gump Strauss Hauer & Feld LLP	4/6/16 - 4/30/16		695,637	Emerald Oil, Inc.	113220	7/21/2016		683,768		11,868
Whiteford, Taylor & Preston LLC	4/6/16 - 5/30/16		82,500	Emerald Oil, Inc.	113257	7/21/2016		75,342		7,158
Houlihan Lokey, Inc.			-					-		-
	Total	$	2,258,683				$	2,121,582	$	137,101

Notes:

(1) Professional payments listed herein include payments made by the Debtors to retained professionals.

FORM MOR-1b

(04/07)

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: July 2016

MOR - 2

Debtor Statement of Operations(1) (2)

For the Period July 1, 2016 through July 31, 2016

(Unaudited)

	Case #	16-10704			16-10707			16-10706		16-10705		16-10708
	Debtors (3):	Emerald Oil, Inc.			Emerald WB, LLC			Emerald NWB, LLC		Emerald DB, LLC		EOX Marketing, LLC		Eliminations (5)			Total Debtors
					(4)			(4)
REVENUES, NET OF TRANSPORTATION EXPENSES
Oil Sales		$	-		$	3,496,235		$	-	$	-	$	5,476,460	$	(5,476,460	)	$	3,496,235
Natural Gas Sales			-			137,568			-		-		-		-			137,568
			-			3,633,803			-		-		5,476,460		(5,476,460	)		3,633,803
OPERATING EXPENSES
Cost of Sales			-			-			-		-		5,439,292		(5,439,292	)		-
Production Expenses			-			2,222,224			-		-		-		-			2,222,224
Production Taxes			-			373,407			-		-		-		-			373,407
General and Administrative Expenses			836,534			-			-		-		-		-			836,534
Depletion of Oil and Natural Gas Properties			-			1,501,967			-		-		-		-			1,501,967
Impairment Expense			-			-			-		-		-		-			-
Depreciation and Amortization			66,828			-			-		-		-		-			66,828
Accretion of Discount on Asset Retirement Obligations			-			-			-		-		-		-			-
Total Expenses			903,362			4,097,598			-		-		5,439,292		(5,439,292	)		5,000,960
INCOME (LOSS) FROM OPERATIONS			(903,362	)		(463,795	)						37,167		(37,167	)		(1,367,157	)
OTHER INCOME (EXPENSE)
Interest Expense			(883,979	)		-			-		-		-		-			(883,979	)
Reorganization Items			(1,661,001	)		-			-		-		-		-			(1,661,001	)
Total Other Expense, Net			(2,544,980	)		-			-		-		-		-			(2,544,980	)
INCOME BEFORE INCOME TAXES			(3,448,342	)		(463,795	)		-		-		37,167		(37,167	)		(3,912,137	)
INCOME TAX BENEFIT			-			-			-		-		-		-			-
NET LOSS		$	(3,448,342	)	$	(463,795	)	$	-	$	-	$	37,167	$	(37,167	)	$	(3,912,137	)

Notes:

(1) The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee, and is unaudited and subject to future adjustment. Certain totals may not sum due to rounding.

(2) The Statement of Operations is prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.

(3) This statement includes all entities controlled by the Debtors and therefore represents the consolidated financial results of Emerald Oil, Inc.

(4) Although title ownership in oil and gas properties is owned by both Emerald WB, LLC (16-10707) and Emerald NWB, LLC (16-10706), the Company has not historically accounted for these interests separately and, instead, have reflected all of their oil and gas activities within Emerald WB, LLC (16-10707).

(5) The crude oil purchases by EOX Marketing, LLC, from Emerald Oil, Inc., are eliminated for consolidation purposes.

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: July 2016

MOR - 3a

Debtor Balance Sheets(1)

As of the Petition Date (2)

(Unaudited)

	Case #	16-10704			16-10707			16-10706		16-10705		16-10708
	Debtors (3):	Emerald Oil, Inc.			Emerald WB, LLC (4)			Emerald NWB, LLC (4)		Emerald DB, LLC		EOX Marketing, LLC			Eliminations (8)			Total Debtors
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents		$	435,528		$	-		$	-	$	-	$	3,100,307		$	-		$	3,535,835
Accounts Receivable — Oil and Natural Gas Sales			1,957,354			-			-		-		-			-			1,957,354
Accounts Receivable — Joint Interest Partners			5,852,643			-			-		-		-			-			5,852,643
Other Receivables			700,705			-			-		-		31,871			-			732,576
Intercompany Receivable			3,018,861			-			-		-		-			(3,018,861	)		-
Prepaid Expenses and Other Current Assets			1,734,745			-			-		-		-			-			1,734,745
Total Current Assets			13,699,836			-			-		-		3,132,178			(3,018,861	)		13,813,153
PROPERTY AND EQUIPMENT
Oil and Natural Gas Properties, Full Cost Method
Proved Oil and Natural Gas Properties			-			733,069,244			-		-		-			-			733,069,244
Unproved Oil and Natural Gas Properties			-			79,272,070			-		-		-			-			79,272,070
Equipment and Facilities			987,311			14,552,936			-		-		-			-			15,540,247
Other Property and Equipment			3,483,025			-			-		-		-			-			3,483,025
Total Property and Equipment			4,470,336			826,894,250			-		-		-						831,364,586
Less - Accumulated Depreciation, Depletion and Amortization			(1,406,996	)		(588,210,892	)		-		-		-			-			(589,617,888	)
Total Property and Equipment, Net			3,063,340			238,683,358			-		-		-						241,746,698
Debt Issuance Costs, Net of Amortization			2,697,568			-			-		-		-			-			2,697,568
Deferred Tax Asset, net			1,813,561			-			-		-		-			-			1,813,561
Other Non-Current Assets			290,084			-			-		-		-			-			290,084
Total Assets		$	21,564,389		$	238,683,358		$	-	$	-	$	3,132,178		$	(3,018,861	)	$	260,361,064
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES SUBJECT TO COMPROMISE (Pre-petition)
Intercompany Payables		$	-		$	-		$	-	$	-	$	3,018,861		$	(3,018,861	)	$	-
Account Payable			42,542,980			-			-		-		29,673			-			42,572,653
Accrued Expenses			5,473,146			-			-		-		264,138			-			5,737,284
Priority Debt (5)			-			-			-		-		-			-			-
Revolving Credit Facility			111,678,151			-			-		-		-			-			111,678,151
Convertible Senior Notes			148,500,000			-			-		-		-			-			148,500,000
Advances from Joint Interest Partners			726,710			-			-		-		-			-			726,710
Asset Retirement Obligations			4,582,522			-			-		-		-			-			4,582,522
Warrant Liability			94,000			-			-		-		-			-			94,000
Deferred Tax Liability, net			1,813,561			-			-		-		-			-			1,813,561
Other Liabilities			-			-			-		-		-			-			-
Total Liabilities Subject to Compromise			315,411,070			-			-		-		3,312,672			(3,018,861	)		315,704,881
Commitments and Contingencies
Series B Voting Preferred Stock (6)			256			-			-		-		-			-			256
STOCKHOLDERS' EQUITY
Common Stock (7)			9,583			-			-		-		-			-			9,583
Additional Paid-In Capital			273,945,998			238,683,358			-		-		-			-			512,629,356
Accumulated Deficit			(567,802,519	)		-			-		-		(180,493	)		-			(567,983,012	)
Total Stockholders' Equity			(293,846,938	)		238,683,358			-		-		(180,493	)		-			(55,344,073	)
Total Liabilities and Stockholders' Equity		$	21,564,389		$	238,683,358		$	-	$	-	$	3,132,178		$	(3,018,861	)	$	260,361,064

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: July 2016

MOR - 3a

Debtor Balance Sheets(1)

As of the Petition Date (2)

(Unaudited)

Notes:

(1) The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee, is unaudited and may not be prepared in accordance with US GAAP and is subject to future adjustment. Certain totals may not sum due to rounding.

(2) The petition date was March 22, 2016.

(3) This statement includes all entities controlled by the Debtors and therefore represents the consolidated financial results of Emerald Oil, Inc.

(4) Although title ownership in oil and gas properties is owned by both Emerald WB, LLC (16-10707) and Emerald NWB, LLC (16-10706), the Company has not historically accounted for these interests separately and, instead, have reflected all of their oil and gas activities within Emerald WB, LLC (16-10707).

(5) While the amount of priority debt as of the petition date is zero, this does not reflect potential liabilities. The amount of these potential liabilities are unknown at this time.

(6) 255,732 issued and outstanding with a liquidation preference value of $256 as of the petition date.

(7) Par Value $.001, 500,000,000 shares authorized, 9,582,970 shares issued and outstanding.

(8) Intercompany balances between EOX Marketing, LLC and Emerald Oil, Inc., are eliminated for consolidation purposes.

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: July 2016

MOR - 3b

Debtor Balance Sheets(1)

As of July 31, 2016

(Unaudited)

	Case #	16-10704			16-10707			16-10706			16-10705		16-10708
	Debtors (2):	Emerald Oil, Inc.			Emerald WB, LLC (3)			Emerald NWB, LLC (3)			Emerald DB, LLC		EOX Marketing, LLC			Eliminations (7)			Total Debtors
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents		$	2,762,183		$	-		$	-		$	-	$	5,052,473		$	-		$	7,814,656
Accounts Receivable — Oil and Natural Gas Sales			4,206,419			-			-			-		-			-			4,206,419
Accounts Receivable — Joint Interest Partners			5,517,783			-			-			-		-			-			5,517,783
Other Receivables			1,398,208			-			-			-		40,011			-			1,438,219
Intercompany Receivables			4,953,907			-			-			-		-			(4,953,907	)		-
Prepaid Expenses and Other Current Assets			1,308,712			-			-			-		-			-			1,308,712
Total Current Assets			20,147,212			-			-			-		5,092,484			(4,953,907	)		20,285,789
PROPERTY AND EQUIPMENT
Oil and Natural Gas Properties, Full Cost Method
Proved Oil and Natural Gas Properties			-			780,302,468			-			-		-			-			780,302,468
Unproved Oil and Natural Gas Properties			-			32,097,671			-			-		-			-			32,097,671
Equipment and Facilities			987,311			14,429,022			-			-		-			-			15,416,333
Other Property and Equipment			3,483,025			-			-			-		-			-			3,483,025
Total Property and Equipment			4,470,336			826,829,161			-			-		-						831,299,497
Less - Accumulated Depreciation, Depletion and Amortization			(1,700,758	)		(669,021,633	)		-			-		-			-			(670,722,391	)
Total Property and Equipment, Net			2,769,578			157,807,528			-			-		-						160,577,106
Debt Issuance Costs, Net of Amortization			2,392,169			-			-			-		-			-			2,392,169
Deferred Tax Asset, net			1,813,561			-			-			-		-			-			1,813,561
Other Non-Current Assets			512,236			-			-			-		-			-			512,236
Total Assets		$	27,634,756		$	157,807,528		$	-		$	-	$	5,092,484		$	(4,953,907	)	$	185,580,861
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts Payable		$	4,827,479		$	-		$	-		$	-	$	-		$	-		$	4,827,479
Debtor-in-possession financing			90,500,000			-			-			-		-			-			90,500,000
Accrued Expenses			-			-			-			-		527,853			-			527,853
Professional Fees			4,225,963			-			-			-		-			-			4,225,963
Total Current Liabilities			99,553,442			-			-			-		527,853			-			100,081,295
LIABILITIES SUBJECT TO COMPROMISE (Pre-petition)
Intercompany Payable			-			-			-			-		4,953,907			(4,953,907	)		-
Account Payable			40,233,709			-			-			-		29,673			-			40,263,382
Accrued Expenses			7,137,691			-			-			-		-			-			7,137,691
Priority Debt (4)			-			-			-			-		-			-			-
Revolving Credit Facility			31,678,151			-			-			-		-			-			31,678,151
Convertible Senior Notes			148,500,000			-			-			-		-			-			148,500,000
Advances from Joint Interest Partners			705,733			-			-			-		-			-			705,733
Asset Retirement Obligations			4,660,343			-			-			-		-			-			4,660,343
Warrant Liability			4,000			-			-			-		-			-			4,000
Deferred Tax Liability, net			1,813,561			-			-			-		-			-			1,813,561
Other Liabilities			-			-			-			-		-			-			-
Total Liabilities Subject to Compromise			234,733,188			-			-	`		-		4,983,579			(4,953,907	)		234,762,861	��
Total Liabilities			334,286,630			-			-			-		5,511,432			(4,953,907	)		334,844,156
Commitments and Contingencies
Series B Voting Preferred Stock (6)			256			-			-			-		-			-			256
STOCKHOLDERS' EQUITY
Common Stock (6)			9,583			-			-			-		-			-			9,583
Additional Paid-In Capital			354,869,461			157,807,528			-			-		-			-			512,676,989
Accumulated Deficit			(661,531,174	)		-			-			-		(418,948	)		-			(661,950,122	)
Total Stockholders' Equity			(306,652,130	)		157,807,528			-			-		(418,948	)		-			(149,263,550	)
Total Liabilities and Stockholders' Equity		$	27,634,756		$	157,807,528		$	-		$	-	$	5,092,484		$	(4,953,907	)	$	185,580,861

Notes:

(1) The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee, is unaudited and may not be prepared in accordance with US GAAP and is subject to future adjustment. Certain totals may not sum due to rounding.

2) This statement includes all entities controlled by the Debtors and therefore represents the consolidated financial results of Emerald Oil, Inc.

(3) Although title ownership in oil and gas properties is owned by both Emerald WB, LLC (16-10707) and Emerald NWB, LLC (16-10706), the Company has not historically accounted for these interests separately and, instead, have reflected all of their oil and gas activities within Emerald WB, LLC (16-10707).

(4) This does not reflect potential liabilities. The amount of potential liabilities are unknown at this time.

(5) 255,732 issued and outstanding with a liquidation preference value of $256 as of the petition date.

(6) Par Value $.001, 500,000,000 shares authorized, 9,582,970 shares issued and outstanding.

(7) Oil Sales of EOX Marketing, LLC on behalf of Emerald Oil, Inc. and associated intercompany balances are eliminated for consolidation purposes.

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: July 2016

MOR - 4a

Status of Post-Petition Taxes(1)

As of July 31, 2016

Unaudited

	Beginning Tax Liability		Amount Withheld or Accrued		Amount Paid			Date Paid	Check No. or EFT	Ending Tax Liability
Federal
Withholding	$	-	$	66,244	$	(66,244	)	Various	Various	$	-
FICA-Employee		-		14,324		(14,324	)	Various	Various		-
FICA-Employer		-		12,816		(12,816	)	Various	Various		-
Unemployment		-		-		-					-
Income		-		-		-					-
Other		-		-		-					-
Total Federal Taxes	$	-	$	93,384	$	(93,384	)			$	-
State and Local
Withholding		-		13,053		(13,053	)	Various	Various		-
Sales		-		-		-					-
Excise		-		-		-					-
Unemployment		-		-		-		Various	Various		-
Real Property		-		-		-					-
Personal Property		-		-		-					-
Other (2)		543,172		527,853		(543,172	)	7/22/2016	00365		527,853
Total State and Local	$	543,172	$	540,906	$	(556,225	)			$	527,853
Total Taxes	$	543,172	$	634,290	$	(649,609	)			$	527,853

Notes:

(1) No tax returns including IRS Form 6123 were filed during the reporting period.

(2) Severance and extraction taxes are paid on a monthly basis to the respective state in which our producing oil and gas properties are located. The amount represents the estimated portion of gross state taxes (including those remitted on behalf of third parties) to the Company that have accrued since the petition date.

FORM MOR-4

(04/07)

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: July 2016

MOR - 4b

Summary of Unpaid Post-Petition Debts(1)

As of July 31, 2016

Unaudited

		Days Aged
		Current			0-30			31-60			61-90			Over 90			Total
Trade Payable		$	3,460,750		$	525,966		$	571,982		$	260,006		$	7,434		$	4,826,138
Wages Payable			-			-			-			-			-			-
Taxes Payable (2)			527,853			-			-			-			-			527,853
Rent/Leases-Building			-			-			-			-			-			-
Rent/Leases-Equipment									-			641			700			1,341
Secured Debt/Adequate Protection Payments			-			-			-			-			-			-
Professional Fees			1,717,643			1,746,510			603,092			158,718			-			4,225,963
Amounts Due to Insiders*			-			-			-			-			-			-
Other			-			-			-			-			-			-
Total Postpetition Debts		$	5,706,246		$	2,272,476		$	1,175,075		$	419,364		$	8,134		$	9,581,294
Percentage of Total	��		60	%		24	%		12	%		4	%		0	%

Notes:

(1)The postpetition accounts payable reported represents open and outstanding trade vendor invoices that have been entered into the Debtor's accounts payable system. This summary includes accruals for invoices not yet received and for invoices not yet entered into the Debtor's accounts payable system.

(2) Severance and extraction taxes are paid on a monthly basis to the respective state in which our producing oil and gas properties are located. The amount represents the estimated portion of gross state taxes (including those remitted on behalf of third parties) to the Company that have accrued since the Petition Date.

In re: EMERALD OIL, INC., et al.,	Case No. 16-10704
Debtor	Reporting Period: July 2016

MOR – 5

Debtors Account Receivable Reconciliation and Aging(1)

As of July 31, 2016

Unaudited

	Days Aged
Debtors	Current			0-30			31-60			61-90			Over 90			Total
Emerald Oil, Inc.	$	3,909,080		$	514,587		$	30,959		$	145,599		$	6,522,185		$	11,122,411
Emerald WB, LLC		-			-			-			-			-			-
Emerald NWB, LLC		-			-			-			-			-			-
Emerald DB, LLC		-			-			-			-			-			-
EOX Marketing, LLC		-			40,011			-			-			-			40,011
Total	$	3,909,080		$	554,598		$	30,959		$	145,599		$	6,522,185		$	11,162,421
Percentage of Total		35	%		5	%		0	%		1	%		58	%

Notes:

(1) Aging is primarily for the Debtors' joint interest billing and oil and gas sales receivables and does not include intercompany receivables. All amounts are included on a gross basis before any adjustment for estimated bad debts and other uncollectible amounts.

FORM MOR-5

(04/07)

DEBTOR QUESTIONNAIRE

Must be completed each month		Yes	No
1.	Have any assets been sold or transferred outside the normal course of business this reporting period?  If yes, provide an explanation below.		X
2.	Have any funds been disbursed from any account other than a debtor in possession account this reporting period?  If yes, provide an explanation below.		X
3.	Have all postpetition tax returns been timely filed?  If no, provide an explanation below.	X
4.	Are workers compensation, general liability and other necessary insurance coverages in effect?  If no, provide an explanation below.	X
5.	Has any bank account been opened during the reporting period?  If yes, provide documentation identifying the opened account(s).  If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.		X