RNS Number:8054V
Fusion Oil & Gas PLC
14 December 2000



                Fusion Announces Rig Contract For Forthcoming

                    Offshore Mauritania Drilling Programme


Fusion Oil & Gas plc ("Fusion") is pleased to announce that Woodside
Mauritania Pty Ltd ("Woodside"), as Operator of the Joint Venture for Blocks
3, 4 and 5 offshore Mauritania, has signed a contract to use the ENI-Saipem
drilling rig "Scarabeo 7" to carry out the Offshore Mauritania drilling
programme scheduled for second quarter 2001.


The Scarabeo 7 is a sophisticated deepwater drilling rig capable of operating
in water depths up to 1500 meters, and therefore able to drill any of the
prospects that have been identified by the Joint Venture as primary targets
for this first programme of drilling offshore Mauritania.


The 2001 work programme and budget will be presented to the Mauritanian
Government in December and the Joint Venture expects that approval will be
obtained to drill two firm wells in the 2001 work programme. The first well is
planned to spud in April 2001. The two wells will be deemed to satisfy the
contractural and farm-in obligations for Area A (shallow-water Blocks 3 and 4
and Block 5) and Area B (deep-water Blocks 4 and 5). The costs of drilling the
wells in Areas A and B will be borne equally by Woodside and AGIP under the
farm-in agreements entered into in August 1998. Fusion's equity participation
in areas A and B is 3 per cent. and 6 per cent. respectively.


Fusion's Managing Director, Alan Stein, commented "The drilling these
deepwater wells will be an important milestone for the company which has been
successful in establishing a significant position in deepwater Northwest
Africa through its projects in Mauritania, The Gambia, Senegal and
Guinea-Bissau".


                                                              14 December 2000




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


Fusion Oil                                Tel: (61) 89 226 3011

Alan Stein, Managing Director             Fax: (61) 89 226 3022

Jonathan Taylor, Exploration Director     e-mail fusion@fusionoil.com.au

Fusion Oil & Gas plc

Level 2 Scott House

46 Kings Park Rd

West Perth 6005

Western Australia


College Hill Associates                   Tel: 020 7457 2020

Peter Brookes
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