Operational Update

Fusion Oil & Gas PLC
18 November 2003


                              Fusion Oil & Gas plc
                          ('Fusion' or 'the Company')

                         Ntem Licence, offshore Cameroon

The Company has been advised that Amerada Hess ('Hess') intends not to continue
its participation in the Ntem exploration licence, offshore the Republic of
Cameroon.

This decision by Hess was made in accordance with an option within the terms of
the farmout agreement negotiated between Fusion and Hess in August 2002. Hess
has acquired and funded a 1,529 sq km 3D seismic survey on behalf of the Ntem
Joint Venture, and will assign its 80% working interest in the licence to Fusion
at no cost.

Fusion's interest in the Ntem licence will as a result increase to 100%.

The Company now intends to complete a detailed and thorough technical evaluation
of the extensive 3D seismic dataset before commencing discussions with companies
that have expressed interest in this prospective acreage.

Fusion's Managing Director, Alan Stein, commented:

'Based on the results of our own preliminary evaluation of the 3D seismic
dataset, and following discussions with various third parties who have reviewed
the data, we are confident of being able to secure alternative partners for
future drilling of the Ntem licence.'

                                                                18 November 2003

Enquiries
Fusion Oil & Gas plc
Alan Stein, Managing Director           Tel:   [phone]
                                        Fax:   [phone]
                                        Email: [e-mail]
Peter Dolan, Chairman                   Tel:   [phone]
                                        Fax:   [phone]
                                        Email: [e-mail]

College Hill Associates                 Tel:   [phone]
                                        Fax:   [phone]
James Henderson                         Email: [e-mail]
Phil Wilson-Brown                       Email: [e-mail]



Mr Williams and Mr Levison are appointees of Westmount Resources Limited which
has been acquired by Sterling Energy Plc.  They have not participated in the
Board's deliberations in relation to this press release.




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