SOURCE: Coastal Energy Company

Coastal Energy Company

October 07, 2011 16:26 ET

Coastal Energy Announces Insider Transaction

HOUSTON, TX--(Marketwire - Oct 7, 2011) - Coastal Energy Company (the "Company" or "Coastal") (TSX: CEN) (AIM: CEO), an independent exploration and production company with assets in Thailand, announces that it was notified today of the following purchase transactions in the Company's common shares:

Shareholder Title Transaction Date Shares this Transaction Transaction Price Shares
Owned
% of Total Outstanding*
Open Market Purchase
Olivier Montal Director September 27, 2011 10,000 C$8.62 312,500 0.28%
Randy Bartley President & CEO October 7, 2011 53,500 C$9.64 1,103,500 0.98%
Option Exercise
L. Barnaby Smith Chairman October 4, 2011 101,890 C$2.20 101,890 0.09%

*Based on total shares issued and outstanding of 112,841,373

After accounting for the transactions listed above, Directors own a total of 2,838,490 Common Shares of the Company, or 2.52% of outstanding shares. Officers own a total of 60,670 Common Shares of the Company, or 0.05%.

Additional information, including the Company's complete competent person's report may be found on the Company's website at www.CoastalEnergy.com or may be found in documents filed on SEDAR at www.sedar.com.

This statement contains 'forward-looking statements' as defined by the applicable securities legislation. Statements relating to current and future drilling results, existence and recoverability of potential hydrocarbon reserves, production amounts or revenues, forward capital expenditures, operation costs, oil and gas price forecasts and similar matters are based on current data and information and should be viewed as forward-looking statements. Such statements are not guarantees of future results and are subject to risks and uncertainties beyond Coastal Energy's control. Actual results may differ substantially from the forward-looking statements.

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.

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

This news release is not for dissemination in the United States or through United States newswire services.

Contact Information

  • Enquiries:

    Coastal Energy Company
    Email: Email Contact
    +1 (713) 877-6793

    Strand Hanson Limited (Nominated Adviser)
    +44 (0) 20 7409 3494
    Rory Murphy
    Paul Cocker

    Macquarie Capital (Europe) Limited (Broker)
    +44 (0) 20 3037 2000
    Ben Colegrave
    Paul Connolly

    FirstEnergy Capital LLP (Broker)
    +44 (0) 20 7448 0200
    Hugh Sanderson
    Travis Inlow

    Buchanan Communications
    +44 (0) 20 7466 5000
    Tim Thompson
    Ben Romney
    Jonathan Rivlin