Holding(s) in Company

Fusion Oil & Gas PLC
23 September 2003

                           SCHEDULE 10
 
             NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   NAME OF COMPANY

FUSION OIL & GAS PLC


2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

STERLING ENERGY 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

NOT DISCLOSED


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

STERLING ENERGY LIMITED          211
NATWEST FIS NOMINEES LIMITED     20,000,000


5)   Number of shares/amount of stock acquired.

NOT DISCLOSED


6)   Percentage of issued Class

NOT DISCLOSED

7)   Number of shares/amount of stock disposed

N/A

8)   Percentage of issued Class

N/A

9)   Class of security

ORDINARY SHARES


10)  Date of transaction

NOT DISCLOSED


11)  Date company informed

23 SEPTEMBER 2003


12)  Total holding following this notification

20,000,211

               
13)  Total percentage holding of issued class following this notification

20.37%


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 ........................23 SEPTEMBER 2003


FUSION OIL & GAS PLC ('Fusion')

Announcement of change in notifiable interests

Fusion was informed on 23 September 2003 that Sterling Energy plc are interested 
in 20,000,211 ordinary shares in Fusion representing 20.37% of the Company's 
issued share capital.



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