Director Shareholding

Fusion Oil & Gas PLC
27 January 2003



27 January 2003

Fusion Oil & Gas plc

Notification of Interest of Directors and Connected Persons


Fusion Oil & Gas plc ('Fusion') announces that FIL Resources Limited ('FIL'), a
company in which Peter Dolan, chairman of Fusion, holds a 45% interest, and Alan
Stein, managing director of Fusion, holds a 30% interest, has disposed of
200,000 shares in Fusion (representing 0.2% of Fusion's issued share capital) at
a price of 27p per share. The sale took place on Friday, 24 January 2003.

FIL will use the proceeds of the sale of these shares to repay a Directors loan
which was made to enable FIL to pay tax liabilities and professional fees
incurred at the time of the admission of Fusion shares to AIM.

FIL retains a holding 9,989,175 shares representing 10.2% of Fusion's issued
share capital.


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