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Press release from GlobeNewswire (a Nasdaq OMX company)

Update of Normal Course Issuer Bid

Thursday, August 23, 2012

Update of Normal Course Issuer Bid16:34 EDT Thursday, August 23, 2012HOUSTON, Aug. 23, 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   August 16 – August 23, 2012   37,000   C$15.7471   113,257,327 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      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)   Hugh Sanderson / Travis Inlow  +44 (0) 20 7448 0200    Buchanan   Tim Thompson / Ben Romney  +44 (0) 20 7466 5000