SOURCE: Coastal Energy Company

Coastal Energy Company

January 04, 2011 17:15 ET

Coastal Energy Company Grants Stock Options

HOUSTON, TX--(Marketwire - January 4, 2011) - Coastal Energy Company (the "Company") (TSX-V: CEN) (AIM: CEO) announces that it granted a total of 1,570,922 incentive stock options to directors, officers, employees and contractors of the Company, pursuant to the Company's Stock Option Plan on December 28, 2010. These options are exercisable at a price of Cdn $5.75 per share, vest over a period of three (3) years and expire five (5) years from the date of award. The following director and officers were granted the following options.

Director / Officer Number of Options
This Grant
  Total Options Outstanding After
This Grant
Randy L. Bartley 549,567   3,430,504
William C. Phelps 187,047   1,421,578
John Griffith 146,890   816,084
Stephen M. Holder 28,364   486,991
Jerry A. Moon, Jr. 94,488   409,279
  Subtotal directors and officers 1,006,356   6,564,436
All other directors and officers 7,874   2,052,632
All others 556,692   2,250,338
  Total all options 1,570,922   10,867,406

As at December 28, 2010 the Company had 109,645,091 shares of common stock issued and outstanding.

On behalf of Coastal Energy Company
"Randy Bartley"
President, Chief Executive Officer and 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.

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

    Stifel Nicolas Weisel (Broker)
    +44 (0) 20 3205 3615
    Paul Colucci

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

    Buchanan Communications
    +44 (0) 20 7466 5000
    Tim Thompson
    Katharine Sutton
    Ben Romney