Coastport Capital Inc.

Coastport Capital Inc.

December 07, 2009 09:00 ET

Coastport Acquires Montney Lands

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 7, 2009) - David Patterson, President of Coastport Capital Inc. (TSX VENTURE:CPP)(FRANKFURT:C1J), reports that the Company has, through the December Alberta Crown land sale, successfully acquired a 75% interest in mineral rights in seven sections (4,480 gross acres) in northern Alberta.

The land was acquired for its Montney Zone potential and is situated in the Fox Creek Area proximal to ongoing Montney Zone horizontal drilling activity. The Montney is a prolific gas-producing zone that has been successfully exploited utilizing horizontal multi-stage frac technology.

The Company has not yet finalized its exploration plans on the recently acquired lands; however, in anticipation of a successful bid, the Company had previously submitted a Caribou application, which will allow the Company to drill a test well this winter. A successful test of the Montney in a vertical well could potentially lead to a horizontal well resource play development program. The balance of interest in the recently acquired lands is held by a private company that bid for the land with the Company.

The Company is actively evaluating additional opportunities in the area, and in the Western Canadian Sedimentary Basin.

About Coastport

Coastport Capital is a Canadian oil and natural gas exploration and production company, with a focus on the Western Canadian Sedimentary Basin. The Western Canadian Sedimentary Basin contains one of the world's largest reserves of petroleum and natural gas, and supplies much of the North American market.


David Patterson

FORWARD-LOOKING STATEMENTS DISCLAIMER: This news release contains forward-looking statements. The reader is cautioned that assumptions used in the preparation of such statements, although considered accurate at the time of preparation, may prove incorrect, and the actual results may vary materially from the statements made herein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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