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Press release from GlobeNewswire (a Nasdaq OMX company)

Coastal Energy Responds to Media Reports of Potential Transaction

Tuesday, November 06, 2012

Coastal Energy Responds to Media Reports of Potential Transaction12:31 EST Tuesday, November 06, 2012HOUSTON, Nov. 6, 2012 (GLOBE NEWSWIRE) -- Coastal Energy Company (the "Company") (TSX:CEN) (AIM:CEO) wishes to comment on media reports regarding a potential transaction between Coastal and Indonesia's state-owned oil company Pertamina. The Company advises that it continuously evaluates strategic alternatives, including but not limited to the potential sale of the Company, to maximize shareholder value. However, there can be no assurance that any transaction will occur. The Coastal Energy Company logo is available at Enquiries: 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 Steve Baldwin / Jeffrey Auld FirstEnergy Capital LLP (Broker) Hugh Sanderson / Travis Inlow +44 (0) 20 7448 0200 Buchanan Communications Tim Thompson / Ben Romney +44 (0) 20 7466 5000