What EXACTLY is meant by "de-referencing a NULL pointer"?

From wiki

A null pointer has a reserved value, often but not necessarily the value zero, indicating that it refers to no object
..

Since a null-valued pointer does not refer to a meaningful object, an attempt to dereference a null pointer usually causes a run-time error.

int val =1;
int *p = NULL;
*p = val; // Whooosh!!!! 

Dereferencing just means accessing the memory value at a given address. So when you have a pointer to something, to dereference the pointer means to read or write the data that the pointer points to.

In C, the unary * operator is the dereferencing operator. If x is a pointer, then *x is what x points to. The unary & operator is the address-of operator. If x is anything, then &x is the address at which x is stored in memory. The * and & operators are inverses of each other: if x is any data, and y is any pointer, then these equations are always true:

*(&x) == x
&(*y) == y

A null pointer is a pointer that does not point to any valid data (but it is not the only such pointer). The C standard says that it is undefined behavior to dereference a null pointer. This means that absolutely anything could happen: the program could crash, it could continue working silently, or it could erase your hard drive (although that's rather unlikely).

In most implementations, you will get a "segmentation fault" or "access violation" if you try to do so, which will almost always result in your program being terminated by the operating system. Here's one way a null pointer could be dereferenced:

int *x = NULL;  // x is a null pointer
int y = *x;     // CRASH: dereference x, trying to read it
*x = 0;         // CRASH: dereference x, trying to write it

And yes, dereferencing a null pointer is pretty much exactly like a NullReferenceException in C# (or a NullPointerException in Java), except that the langauge standard is a little more helpful here. In C#, dereferencing a null reference has well-defined behavior: it always throws a NullReferenceException. There's no way that your program could continue working silently or erase your hard drive like in C (unless there's a bug in the language runtime, but again that's incredibly unlikely as well).

It means

myclass *p = NULL;
*p = ...;  // illegal: dereferencing NULL pointer
... = *p;  // illegal: dereferencing NULL pointer
p->meth(); // illegal: equivalent to (*p).meth(), which is dereferencing NULL pointer

myclass *p = /* some legal, non-NULL pointer */;
*p = ...;  // Ok
... = *p;  // Ok
p->meth(); // Ok, if myclass::meth() exists

basically, almost anything involving (*p) or implicitly involving (*p), e.g. p->... which is a shorthand for (*p). ...; except for pointer declaration.

A NULL pointer points to memory that doesn't exist. This may be address 0x00000000 or any other implementation-defined value (as long as it can never be a real address). Dereferencing it means trying to access whatever is pointed to by the pointer. The * operator is the dereferencing operator:

int a, b, c; // some integers
int *pi;     // a pointer to an integer

a = 5;
pi = &a; // pi points to a
b = *pi; // b is now 5
pi = NULL;
c = *pi; // this is a NULL pointer dereference

This is exactly the same thing as a NullReferenceException in C#, except that pointers in C can point to any data object, even elements inside an array.