The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

Coastal Energy Announces Insider Transaction

Friday, October 07, 2011

Coastal Energy Announces Insider Transaction16:26 EDT Friday, October 07, 2011HOUSTON, TX--(Marketwire - October 07, 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:---------------------------------------------------------------------------- Transaction Shares this Transaction Shares % of TotalShareholder Title Date Transaction Price Owned Outstanding-----------------------------------------------------------------------------Open MarketPurchase----------------------------------------------------------------------------Olivier Director September 10,000 C$8.62 312,500 0.28%Montal 27, 2011Randy President October 7, 53,500 C$9.64 1,103,500 0.98%Bartley & CEO 2011----------------------------------------------------------------------------OptionExercise----------------------------------------------------------------------------L. Barnaby Chairman October 4, 101,890 C$2.20 101,890 0.09%Smith 2011-----------------------------------------------------------------------------Based on total shares issued and outstanding of 112,841,373After 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.FOR FURTHER INFORMATION PLEASE CONTACT: Enquiries:OREmail: investor@CoastalEnergy.comCoastal Energy Company+1 (713) 877-6793OR+44 (0) 20 7409 3494Strand Hanson Limited (Nominated Adviser)Rory MurphyPaul CockerOR+44 (0) 20 3037 2000Macquarie Capital (Europe) Limited (Broker)Ben ColegravePaul ConnollyOR+44 (0) 20 7448 0200FirstEnergy Capital LLP (Broker)Hugh SandersonTravis InlowOR+44 (0) 20 7466 5000Buchanan CommunicationsTim ThompsonBen RomneyJonathan Rivlin