Director Shareholding

Fusion Oil & Gas PLC
24 September 2002

FUSION OIL & GAS PLC ('Fusion')

Notification of interests of Director

100,000 partly paid shares in Fusion Oil & Gas NL ('FOG') paid up and converted
into ordinary shares in Fusion

The Directors of Fusion have received notice on 23 September 2002 that Haroma
Pty Limited, a company associated with Dr Alan Stein, managing director of
Fusion, is paying up the balance of AUS$19,900 (approximately £6,960) due in
respect of 100,000 partly paid shares in FOG. The 100,000 shares represent 0.1%
of the current issued share capital. Fusion is now obliged, as described in the
Admission Document dated 22 September 2000, to acquire the shares and to issue,
as consideration, a corresponding number of fully paid ordinary shares in
Fusion. Dr Stein has notified the Company that he has disposed of these shares
by way of a gift to a member of his family. Following this transaction Mr Stein
will be interested in 10,189,275 ordinary shares (being the holding of FIL
Resources Limited), representing 10.4% of the issued share capital as enlarged
by the issue of these new ordinary shares.

Application has been made to AIM for the listing of the new ordinary shares
expected on 30 September 2002. The new ordinary shares will rank parri passu
with the existing ordinary shares in issue.



Enquiries:

Fusion Oil & Gas plc - Tel [phone]

Dr Peter Dolan Chairman

College Hill Associates

Peter Rigby - Tel [phone]


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