Director Shareholding

Fusion Oil & Gas PLC
4 December 2003


                                  SCHEDULE 11

         NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED  PERSONS


1)  NAME OF COMPANY

    FUSION OIL & GAS PLC


2)  NAME OF DIRECTOR

    DR ALAN STEIN


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 or in respect of an non-beneficial interest

    BENEFICIAL


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

    FIL RESOURCES LIMITED                    9,989,175
    ALAN MCKELLAR                              900,100


5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

    N/A


6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

    CONVERSION INTO ORDINARY SHARES IN FUSION OIL & GAS PLC ON PAYING UP UNPAID
    BALANCE ON PARTLY PAID SHARES IN FUSION OIL & GAS NL


7)  Number of shares/amount of
    stock acquired

    900,000


8)  Percentage of issued Class

    0.9%


9)  Number of shares/amount
    of stock disposed



10) Percentage of issued Class



11) Class of security

    ORDINARY


12) Price per share

    AUS$ 0.199


13) Date of transaction

    4 DECEMBER 2003


14) Date company informed

    4 DECEMBER 2003


15) Total holding following this notification

    10,889,275


16) Total percentage holding of issued class following this notification

    10.6%


     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number.



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification



23) Any additional information



24) Name of contact and telephone number for queries

    R G GODSON
    020 77495 5916


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


    Date of Notification      4 DECEMBER 2003


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