SOURCE: Coastal Energy Company

Coastal Energy Company

July 06, 2011 08:30 ET

Coastal Energy Announces Insider Transactions

HOUSTON, TX--(Marketwire - Jul 6, 2011) - Coastal Energy Company (the "Company" or "Coastal") (TSX-V: CEN) (AIM: CEO), an independent exploration and production company with assets in Thailand, announces that it was notified today of the following transactions in the Company's common shares:

Shareholder Title Transaction Date Shares
this
Transaction
Transaction Price Shares
Owned
% of Total Outstanding*
Open Market Purchases
Randy L. Bartley President & CEO/Director June 29, 2011 15,000 C$7.88 1,050,000 0.93%
Jerry A. Moon VP, Technical June 29, 2011 50,670 C$7.94 50,670 0.05%
Open Market
Sales
John Zaozirny Director July 5, 2011 89,400 C$8.60 110,600 0.10%
Shareholder Title Transaction Date Shares
this
Transaction
Exercise Price Shares
Owned
% of Total Outstanding*
Exercised Options
John Zaozirny Director July 4, 2011 100,000 C$ 2.20 110,600 0.10%

After accounting for the transactions listed above, Directors own a total of 2,403,100 Common Shares of the Company, or 2.14% of outstanding shares. Officers own a total of 60,670 Common Shares of the Company, or 0.05%.

*Based on total shares issued and outstanding of 112,416,894

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
    +1 (713) 877-6793
    Email: Email Contact

    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