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Press release from GlobeNewswire (a Nasdaq OMX company)

Update of Normal Course Issuer Bid

Thursday, June 14, 2012

Update of Normal Course Issuer Bid14:33 EDT Thursday, June 14, 2012HOUSTON, June 14, 2012 (GLOBE NEWSWIRE) -- Further to the Coastal Energy Company's (TSX:CEN) (AIM:CEO) announcement on 23 May 2012 regarding the implementation of a Normal Course Issuer Bid, which commenced on 25 May 2012 (the "NCIB") the Company provides the following update relating to common shares in the Company ("Common Shares") purchased, and subsequently cancelled in accordance with the NCIB.        DateNumber of Common Shares Purchased & CancelledAverage Purchase PriceRemaining Number of Common Shares Outstanding   June 8 – June 14, 2012   225,700   C$15.0743   113,541,595 The Company will provide further updates on a weekly basis from the date of this announcement. 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=10062CONTACT: 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 Tim Thompson / Ben Romney +44 (0) 20 7466 5000