Director Shareholding

Fusion Oil & Gas PLC
24 February 2003

FUSION OIL & GAS PLC ('Fusion')

Notification of interest of directors and connected persons

Fusion was informed on 21 February 2003 that Jonathon Taylor, a director of the
Company and his spouse Suzanne Taylor have each acquired on 21 February 2003
interests in 17.24% in Ronech Exploration Limited, a company which owns
1,000,000 ordinary shares in Fusion. As a result, Mr Taylor now holds a legal
interest in 1,500,100 ordinary shares or 1.53% of the issued share capital. His
beneficial interest becomes 0.86%.

His interest in partly paid shares in Fusion Oil & Gas N.L., which are each
convertible into one share in Fusion when paid up, remains at 1,050,000.

END


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