Drilling Report

Fusion Oil & Gas PLC
13 August 2002


                              Fusion Oil & Gas plc

                          ('Fusion' or 'the Company')

                            Drilling Progress Report



Woodside Mauritania Pty Ltd., Operator of the Mauritania PSC B Joint Venture,
reports that on 13 August the Chinguetti-4-2 step-out exploration well was at a
depth of 2428 metres and preparing to open the 8-1/2 inch cored hole to 12-1/4
inches and drill ahead.

Four cores have been cut and recovered over the interval 2385 - 2428 metres.

All reported depths are referenced to the rig rotary table.

Fusion has a 6% interest in PSC B.


                                                                13th August 2002


For further details please refer to the company's web page www.fusionoil.com.au
or contact:


Fusion Oil & Gas plc
Alan Stein, Managing Director     Tel:   [phone]
Australia                         Fax:   [phone]
                                  e-mail:  [e-mail]


Peter Dolan, Chairman             Tel:    [phone]
England                           Fax:   [phone]
                                  e-mail:  [e-mail]


College Hill Associates
Peter Rigby                       Tel:   [phone]
James Henderson                   Fax:   [phone]
                                  e-mail:  [e-mail]






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