Coastal Energy Co.
AIM : CEO
TSX VENTURE : CEO

Coastal Energy Co.

January 18, 2007 04:00 ET

Coastal Energy Company Grants Stock Options

LONDON, UNITED KINGDOM--(CCNMatthews - Jan. 18, 2007) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES

Coastal Energy Company ("Coastal") (TSX VENTURE:CEO)(AIM:CEO) announces a number of significant events in a trading update for the Company's operations in Thailand. reports that pursuant to the Company's Stock Option Plan, a total of 12,100,000 incentive stock options were granted to officers, directors and new employees of the Company on December 27, 2006. The options are exercisable at a price of CAD $0.55 per share, vest over a period of 3 years and expire in 5 years from the date of award.

Of the total grant, 11,800,000 incentive stock options were granted to Directors and Officers of Coastal, as previously announced on the RNS release dated 28 December 2006. As a result of this grant. Coastal has total stock options outstanding as at December 27, 2006 of 15,250,000, of which 13,450,000 are to Directors and Officers of Coastal.

On behalf of Coastal Energy Company

Frank Inouye, Chief Executive Officer & Director

These securities have not been registered under United States Securities Act of 1933 (the "US Securities Act") or the securities laws of any state and may not be offered or sold in the United States or to US persons (as defined in Regulation S under the US Securities Act) unless an exemption from registration is available.

Frank Inouye, President, CEO and Director of the Company, and a member of the American Association of Petroleum Geologists, has reviewed the contents of this announcement.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Coastal Energy Company
    Frank Inouye
    Chief Executive Officer
    44 (0) 207 569 9000
    or
    Coastal Energy Company
    William C. Phelps
    Chief Financial Officer
    (1) 713 877 6727
    Website: www.coastalenergy.com
    or
    Canaccord Adams Limited
    Ryan Gaffney
    44 (0) 207 050 6777