Drilling Report

Fusion Oil & Gas PLC
10 November 2003



                               Fusion Oil & Gas plc
                          ('Fusion' or 'the Company')



               NEW OIL & GAS DISCOVERY IN TIOF EXPLORATION WELL,
                              OFFSHORE MAURITANIA



Woodside Mauritania Pty Ltd, Operator of the Mauritania Area B Joint Venture,
issued the following statement earlier today in regard to exploration drilling
activities in Mauritania:



Mauritania PSC-B, Chinguetti-4-6 (Tiof) Exploration Well

'Woodside Mauritania Pty Ltd, Operator of the Mauritania Area B Joint Venture,
reports that at 0000 hours on 10 November 2003 the acquisition of wireline logs
and samples was continuing in the Chinguetti-4-6 (Tiof) exploration well.

Since the last report, the well was drilled to a final total depth of
approximately 2870 metres and wireline logging commenced.

Preliminary wireline log results indicate a gross gas column of approximately
48m and a minimum gross oil column of 38m. Data acquisition and analysis
operations are continuing.

All reported depths (except water depth) are referenced to the rig rotary table
and all reported times are UTC (also known as GMT).'

Participants in the Area B PSC are:


Woodside Mauritania Pty Ltd (Operator)                         35.0% (Operator)
AGIP Mauritania BV                                             35.0%
Hardman Resources Ltd                                          21.6%
Fusion Mauritania B Limited                                    6.0%
Roc Oil (Mauritania) Company                                   2.4%



As previously announced on 28 May 2003, the Company has entered into an
agreement with Premier Oil plc regarding the disposal of its interests in
Mauritania.  Subject to fulfilment of certain conditions, Fusion will receive
cash payments linked to all future production attributable to Fusion's current
interests from PSC A and PSC B.

                                                                10 November 2003



Fusion's Managing Director, Dr Alan Stein commented:



'This is an excellent result which underpins our confidence in the exploration
potential of offshore Mauritania.  Further reservoir sampling and pressure
measurements are being taken to determine the full extent of the hydrocarbon
column in the well.  There is a possibility that the oil column may be greater
than 38 metres.'


Enquiries

Fusion Oil & Gas plc
Alan Stein, Managing Director           Tel:   [phone]
                                        Fax:   [phone]
                                        Email: [e-mail]
Peter Dolan, Chairman                   Tel:   [phone]
                                        Fax:   [phone]
                                        Email: [e-mail]
                                      
College Hill Associates                 Tel:   [phone]
                                        Fax:   [phone]
James Henderson                         Email: [e-mail]
Phil Wilson-Brown                       Email: [e-mail]






                      This information is provided by RNS
            The company news service from the London Stock Exchange