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Press release from GlobeNewswire (a Nasdaq OMX company)

Coastal Energy Announces Insider Transaction

Friday, December 02, 2011

Coastal Energy Announces Insider Transaction05:30 EST Friday, December 02, 2011HOUSTON, Dec. 2, 2011 (GLOBE NEWSWIRE) -- 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:   Shareholder Title Transaction DateShares this TransactionTransaction PriceSharesOwned % of Total Outstanding*Option Exercise               C. Robert Black Director November 30,  2011 187,500 C$2.20 0 0.0%  Open Market Sale     C. Robert Black     Director   November 30, 2011 – December 1, 2011     187,500     C$13.82     0     0.0%                 After accounting for the transactions listed above, Directors & Officers own a total of 2,926,660 Common Shares of the Company, or 2.6% of outstanding shares.  *Based on total shares issued and outstanding of 113,055,540 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. The Coastal Energy Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10062 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. CONTACT: Coastal Energy Company Email: investor@CoastalEnergy.com +1 (713) 877-6793 Strand Hanson Limited (Nominated Adviser) Rory Murphy Paul Cocker +44 (0) 20 7409 3494 Macquarie Capital (Europe) Limited (Broker) Paul Connolly Jeffrey Auld +44 (0) 20 3037 2000 FirstEnergy Capital LLP (Broker) Hugh Sanderson Travis Inlow +44 (0) 20 7448 0200 Buchanan Communications Tim Thompson Ben Romney +44 (0) 20 7466 5000