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Press release from GlobeNewswire (a Nasdaq OMX company)

Coastal Energy Announces Insider Transactions

Wednesday, January 18, 2012

Coastal Energy Announces Insider Transactions14:52 EST Wednesday, January 18, 2012HOUSTON, Jan. 18, 2012 (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 PriceShares Owned % of Total OutstandingOpen Market Purchase                           Olivier de Montal Director January 17, 2012 10,000 C$15.95 350,000 0.31%               L. Barnaby Smith* Chairman January 17, 2012 496 C$16.10  123,488 0.11%              Option Exercise             William C. Phelps Chief Financial Officer January 18, 2012 142,589 C$1.35 – C$3.94 1,677,255 1.47%              Open Market Sale             L. Barnaby Smith* Chairman January 17, 2012 3,000 C$15.96 123,488 0.11% *Note: Mr. Smith's transactions were a result of personal tax planning which is why there is a sale and a later repurchase on the same day. After accounting for the transactions listed above, Directors & Officers own a total of 3,605,513 Common Shares of the Company, or 3.17% of outstanding shares based on total shares issued and outstanding of 113,912,413 Additional information, including the Company's complete competent person's report may be found on the Company's website at or may be found in documents filed on SEDAR at The Coastal Energy Company logo is available at 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.CONTACT: Coastal Energy Company Email: +1 (713) 877-6793 Strand Hanson Limited (Nominated Adviser) +44 (0) 20 7409 3494 Rory Murphy Paul Cocker Macquarie Capital (Europe) Limited (Broker) +44 (0) 20 3037 2000 Paul Connolly Jeffrey Auld FirstEnergy Capital LLP (Broker) +44 (0) 20 7448 0200 Hugh Sanderson Travis Inlow Buchanan Communications +44 (0) 20 7466 5000 Tim Thompson Ben Romney