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Press release from GlobeNewswire (a Nasdaq OMX company)

Coastal Energy Announces Insider Transactions

Wednesday, May 23, 2012

Coastal Energy Announces Insider Transactions16:05 EDT Wednesday, May 23, 2012HOUSTON, May 23, 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 Monday of the following purchase transactions in the Company's common shares:              ShareholderTitleTransaction DateShares this TransactionTransaction PriceShares Owned % of Total OutstandingOpen Market Purchase             Jerry A. Moon VP, Technical May 22, 2012 7,500 US$13.36 58,170 0.05% After accounting for the transactions listed above, Directors & Officers own a total of 3,724,146 Common Shares of the Company, or 3.26% of outstanding shares based on total shares issued and outstanding of 114,319,445. 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. The Coastal Energy Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10062    Enquiries:  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      Macquarie Capital (Europe) Limited (Broker)   +44 (0) 20 3037 2000 Paul Connolly / Jeffrey Auld      FirstEnergy Capital LLP (Broker)   Hugh Sanderson / Travis Inlow +44 (0) 20 7448 0200     Buchanan   Tim Thompson / Ben Romney  +44 (0) 20 7466 5000