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Press release from GlobeNewswire (a Nasdaq OMX company)

Coastal Energy Company Grants Stock Options

Tuesday, January 10, 2012

Coastal Energy Company Grants Stock Options17:00 EST Tuesday, January 10, 2012HOUSTON, Jan. 10, 2012 (GLOBE NEWSWIRE) -- Coastal Energy Company (the "Company") (TSX:CEN) (AIM:CEO) announces that it granted a total of 1,538,773 incentive stock options to directors, officers, employees and contractors of the Company, pursuant to the Company's Stock Option Plan on 14 December 2011. These options are exercisable at a price of Cdn $14.04 per share, vest equally over a period of three (3) years and expire five (5) years from the date of award. The following directors and officers were granted the following options.  Director / OfficerNumber of Options This GrantTotal Options Outstanding After This Grant Randy L. Bartley 635,303 4,065,807 William C. Phelps 262,281 939,193 John Griffith 211,428 853,512 Stephen M. Holder 40,799 305,272 Jerry A. Moon, Jr. 73,739 434,052 Subtotal directors and officers 1,223,550 6,597,836       All other directors and officers     All other employees 315,223 1,950,957       Total all options 1,538,773 8,548,793 As at December 31, 2011 the Company had 113,605,881 shares of common stock issued and outstanding. In addition, the Company granted a total of 205,628 restricted stock units ("RSUs") to directors, officers, employees and contractors of the Company, pursuant to the Company's Restricted Stock Unit Plan on 14 December 2011. These RSUs vest equally over a period of three (3) years. The following directors and officers were granted the following RSUs:  Director / OfficerNumber of RSUs This GrantTotal RSUs Outstanding After This Grant Randy L. Bartley 66,899 66,899 William C. Phelps 27,069 27,069 John Griffith 20,321 20,321 Stephen M. Holder 5,414 5,414 Jerry A. Moon, Jr. 9,745 9,745 Subtotal directors and officers 129,448 129,448       All other directors and officers 37,897 37,897 All other employees 38,283 38,283       Total all RSUs 205,628 205,628 The Coastal Energy Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10062 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: Coastal Energy Company Email: investor@CoastalEnergy.com +1 (713) 877-6793 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