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The Globe and Mail

Insiders are buying again at Coastal Energy

Ships and drilling rigs surround the Discoverer Enterprise as it continues to recover oil from the Deepwater Horizon drill site in the Gulf of Mexico

© Sean Gardner / Reuters

We wrote about insider buying at Thailand-focused Coastal last August when the stock was trading just over $3. The share price subsequently moved above $6 in early January at which point there was some insider selling. Following a pull back from the year's highs, the stock found some price support last month and now insiders are buying again as the share price rallies.

The most recent public-market buying took place between June 24 and June 25 when director Bernard de Combret bought 150,000 shares at prices ranging from $4.22 to $4.24. Director John Zaozirny also acquired 25,000 shares through option exercises around the same time (not shown on chart).

It can be a positive sign when insiders buy as the share price is rising. It also encouraging to see insiders exercising options and not selling.

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Disclaimer:

Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com . Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.

Graph Footnote:

Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.

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