Operational Update

Fusion Oil & Gas PLC
02 December 2003


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


                              Operational Update


The following statement relates to operational developments.


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


Mauritania PSC-B, Block 5 Chinguetti-5-1 (Poune)

'Woodside Mauritania Pty Ltd, Operator of the Mauritania Area B Joint Venture,
reports that at 0000 hours on 2 December 2003 the Chinguetti-5-1 (Poune)
exploration well was drilling ahead at 2979 metres in 81/2 inch hole.


Since the last report, the 13 3/8 inch casing was run, 12 1/4 inch hole was
drilled to 2887 metres and 9 5/8 inch casing was run.


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 as follows:
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 future production attributable to Fusion's current
interests from PSC A and PSC B.


                                                                02 December 2003

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]


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