Coastal Energy Co.
AIM : CEO
TSX VENTURE : CEO

Coastal Energy Co.

September 11, 2007 02:01 ET

Postponement of Reverse Stock Split

LONDON, UNITED KINGDOM--(Marketwire - Sept. 11, 2007) -

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

Coastal Energy Company, (TSX VENTURE:CEO)(AIM:CEO) ("Coastal" or "the Company") an independent exploration and production company with assets in South-East Asia, announces that the one-for-four reverse stock split approved at the Annual General Meeting of Shareholders on August 17, 2007 has been temporarily delayed in order that the Company can proceed with the reverse stock split in accordance with Cayman Islands law. The Company plans to call a General Meeting of Shareholders to approve a further resolution over the course of the next week. If approved by Shareholders, the reverse stock split will be effected shortly after the General Meeting of Shareholders to approve the resolution.

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.

Contact Information

  • Coastal Energy Company
    Frank Inouye
    Chief Executive Officer
    +44 (0) 1483 549 549
    or
    Coastal Energy Company
    William C. Phelps
    Chief Financial Officer
    +01 713 877 6727
    Email: investor@coastalenergy.com
    or
    Bell Pottinger Corporate & Financial
    Ann-Marie Wilkinson / Nick Lambert / Rosanne Perry
    +44 (0) 20 7861 3232