Holding(s) in Company

Fusion Oil & Gas PLC
25 September 2002


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     FUSION OIL & GAS PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     HBOS PLC

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
     
     SHAREHOLDER AND SUBSIDIARIES

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

     MORGAN NOMINEES LTD   -  3,565,834
     CHASE NOMINEES LTD    -  3,913,910

5)   Number of shares/amount of stock acquired.
 
     NOT DISCLOSED

6)   ( NOT DISCLOSED%) of issued Class

7)   Number of shares/amount of stock disposed

     N/A

8)   ( N/A %) of issued Class

9)   Class of security

     ORDINARY SHARES

10)  Date of transaction

     NOT DISCLOSED

11)  Date company informed

     24 SEPTEMBER 2002

12)  Total holding following this notification

     7,479,744
               
13)  Total percentage holding of issued class following this notification

     7.87%

14)  Any additional information



15)  Name of contact and telephone number for queries

     R G GODSON - 020 7495 5916

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

     Date of Notification ...25 SEPTEMBER 2002



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