RNS Number:7440R
Sterling Energy PLC
06 November 2003


Not for release, publication or distribution in, into or from the United States,
Canada, Australia or Japan.



Sterling Energy plc


Offer for Fusion Oil & Gas plc by Evolution Beeson Gregory Limited on behalf of
                              Sterling Energy plc


          Extension of Offer and announcement of level of acceptances



Sterling Energy plc announces that the Offer made by Evolution Beeson Gregory on
behalf of Sterling for the issued and to be issued share capital of Fusion Oil &
Gas plc, including the Partial Cash Alternative and Additional Cash Election as
set out in the offer document dated 1 October 2003, has been extended until 3.00
p.m. on 30 November 2003. The Offer cannot be extended beyond this date save
with the consent of the Panel.


As at 3.00 p.m. yesterday, 5 November 2003, Sterling either owned or had
received valid acceptances for the Offer in respect of an aggregate of
47,085,221 Fusion Shares, representing approximately 46.9 per cent. of the
issued ordinary share capital of Fusion, as increased by the decision of certain
holders of Fusion NL Shares, including directors of Fusion, to convert them into
Fusion Shares.


Of this total, Sterling had received valid acceptances for the Offer in respect
of holders of 27,085,010 Fusion Shares, representing approximately 26.98 per
cent. of the issued ordinary share capital of Fusion. These acceptances include
valid acceptances of the Offer in respect of 9,400,000 Fusion Shares held by
Invesco Asset Management Limited for which Sterling had received an irrevocable
undertaking to accept the Offer and 11,367,500 Fusion Shares for which Sterling
had received letters of intent to accept the Offer, now representing
approximately 9.4 per cent. and 11.3 per cent. respectively of Fusion's issued
ordinary share capital.


Prior to the announcement of the Offer Sterling acquired 20,000,000 Fusion
Shares now representing approximately 19.9 per cent. of the issued ordinary
share capital of Fusion in addition to the 211 Fusion Shares it already owned.


Of those Fusion Shareholders accepting the Offer to date, 99.1 per cent. have
elected to receive wholly Sterling Shares on the basis of 3.5 Sterling Shares
for each Fusion Share rather than electing for the Partial Cash Alternative or
the Additional Cash Election available under the terms of the Offer.



Words and expressions defined in the offer document from Sterling to Fusion
Shareholders dated 1 October 2003 and the circular from Sterling to Fusion
Shareholders dated 18 October 2003 shall have the same meaning in this
announcement.


Evolution Beeson Gregory, which is regulated in the UK by the Financial Services
Authority, is acting exclusively for Sterling and no one else in connection with
the Offer and other matters described herein and will not be responsible to
anyone other than Sterling for providing the protections afforded to customers
of Evolution Beeson Gregory or for giving advice in relation to the Offer or any
other matter described in this announcement.






                      This information is provided by RNS
            The company news service from the London Stock Exchange

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