Holding(s) in Company

Fusion Oil & Gas PLC
17 June 2003

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     FUSION OIL & GAS PLC 

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     ROYAL BANK OF CANADA AND ITS GROUP

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

     AS SHOWN IN 4

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

     THE REGENT TRUST COMPANY LIMITED AS TRUSTEES OF THE 
     BUCKPASSER TRUST                                             801,625
     THE REGENT TRUST COMPANY LIMITED AND
     GRETEN TRUSTEES LIMITED AS TRUSTEES OF THE RAWLINSON
     FAMILY TRUST                                                 195,000
     MEDINA GLOBAL LIMITED                                      1,150,000
     THE REGENT TRUST COMPANY LIMITED AS TRUSTEES OF THE 
     TRURO TRUST                                                  801,626

5)   Number of shares/amount of stock acquired.

     195,000

6)   ( 0.2 %) 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

     NOTICE RECEIVED ON 17 JUNE 2003

12)  Total holding following this notification

     2,948,251
               
13)  Total percentage holding of issued class following this notification

     3.0%

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 .....17 JUNE 2003...................



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