RNS Number:8460S
Sterling Energy PLC
04 December 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


                    Acceptance levels on the penultimate day



Sterling Energy plc reminds Fusion Shareholders 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 will lapse* today unless the Offer is declared
unconditional as to acceptances prior to midnight tonight, Thursday 4 December
2003. In order for this to happen Sterling must receive valid acceptances under
the Offer by 1.00 p.m. today so that it owns or has received valid acceptances
in respect of greater than 50 per cent. of Fusion's issued ordinary share
capital. By reference to the announcement made by Fusion yesterday this would
require Sterling to either own or have acquired not less than 50,703,113 Fusion
Shares

As at 3.00 p.m. yesterday, 3 December 2003, Sterling either owned or had
received valid acceptances for the Offer in respect of an aggregate of
49,830,746 Fusion Shares, representing approximately 49.14 per cent. of the
issued ordinary share capital of Fusion. This represents 872,367 Fusion Shares
less than is required to meet the minimum acceptance condition.

In light of the fact that our acceptance levels to date are within such close
proximity to the minimum acceptance level we require under the Offer, we would
urge all Fusion Shareholders who have not already accepted the Offer or who have
decided to ignore our Offer to reconsider their position in the short timeframe
remaining.


Additional Information

Sterling has received valid acceptances for the Offer in respect of holders of
29,830,535 Fusion Shares, representing approximately 29.41 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 9.27 per cent. and 11.21 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 19.72 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, 95.31 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 circulars from Sterling to Fusion
Shareholders dated 18 October 2003 and 20 November 2003 shall have the same
meaning in this announcement.

*The Offer will not be revised or extended save in the event of a competitive
situation (as determined by the Panel) arising or otherwise with the consent of
the Panel.

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.



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