Holding in Company

Fusion Oil & Gas PLC
27 November 2001


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

FUSION OIL & GAS PLC


2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

ZURICH FINANCIAL SERVICES AND ITS GROUP


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

2 ABOVE


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

LITTLEDOWN NOMINEES LIMITED A/c 07197  2,800,000

LITTLEDOWN NOMINEES LIMITED A/c 21667    341,525

LITTLEDOWN NOMINEES LIMITED A/c 07203    688,475


5)   Number of shares/amount of stock acquired.

145,000


6)   (.16%) of issued Class

7)   Number of shares/amount of stock disposed



8)   ( N/A %) of issued Class

9)   Class of security

ORDINARY SHARES


10)  Date of transaction

27 NOVEMBER 2001


11)  Date company informed

27 NOVEMBER 2001


12)  Total holding following this notification

3,830,000

               
13)  Total percentage holding of issued class following this notification

4.14%


14)  Any additional information



15)  Name of contact and telephone number for queries

R.G. GODSON 020 7495 5916


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


     Date of Notification ..27 NOVEMBER 2001......................