Director Shareholding

Fusion Oil & Gas PLC
2 December 2003


FUSION OIL & GAS PLC ('Fusion')

1,000,000 partly paid shares in Fusion Oil & Gas NL ('FOG') paid up and
converted into ordinary shares in Fusion.

Application to the Alternative Investment Market of the London Stock Exchange
('AIM') for the admission of these additional ordinary shares

Change in directors interests

The Directors of Fusion have received notice that the Chairman of Fusion, Dr
Peter Dolan, a holder of partly paid shares in FOG is paying up the balances of
AUS$ 199,000 (approximately £83,000) due in respect of 1,000,000 partly paid
shares in FOG. Fusion is now obliged, as described in the Admission Document
dated 22 September 2000, to acquire the shares and to issue, as consideration,
fully paid ordinary shares in Fusion.

Application is being made to AIM for the listing of the additional ordinary
shares expected on 6 December. The new ordinary shares will rank pari passu with
the existing ordinary shares in issue.

As a result of the above transaction, Dr Dolan now holds a beneficial interest
in 11,014,824 ordinary shares in Fusion representing 10.9% of the current issued
share capital.

Enquiries:

Fusion Oil & Gas plc - Tel [phone] 

Dr Peter Dolan Chairman


                       SCHEDULE 11

     NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED 
                        PERSONS

1)  NAME OF COMPANY

    FUSION OIL & GAS PLC


2)  NAME OF DIRECTOR

    PETER DOLAN


3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
    non-beneficial interest or in the case of an individual holder
    if it is a holding of that person's spouse or children under the
    age of 18 or in respect of an non-beneficial interest

    BENEFICIAL


4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)

    FIL RESOURCES LIMITED                    9,989,175
    PETER DOLAN                              1,025,649


5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

    N/A


6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

    CONVERSION INTO ORDINARY SHARES IN FUSION OIL & GAS PLC ON PAYING UP UNPAID
    BALANCE ON PARTLY PAID SHARES IN FUSION OIL & GAS NL


7)  Number of shares/amount of
    stock acquired

    1,000,000


8)  Percentage of issued Class

    1.0%


9)  Number of shares/amount
    of stock disposed



10) Percentage of issued Class



11) Class of security

    ORDINARY


12) Price per share

    AUS$ 0.199


13) Date of transaction

    2/12/03


14) Date company informed

    2/12/03


15) Total holding following this notification

    11,014,824


16) Total percentage holding of issued class following this notification

    10.9%


     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number.



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification



23) Any additional information



24) Name of contact and telephone number for queries

    R G GODSON
    020 77495 5916


25) Name and signature of authorised company official responsible for
    making this notification


    Date of Notification      2 DECEMBER 2003


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            The company news service from the London Stock Exchange