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 today of the following purchase transactions in the Company's common shares:
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Shares this Transaction Shares % of Total
Shareholder Title Transaction Date Transaction Price Owned Outstanding
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Option Exercise
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Chief
Financial
William C. Phelps Officer April 12, 2012 50,000 C$3.94 1,627,260 1.42%
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Open Market
Purchase
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L. Barnaby Smith Chairman April 12, 2012 4,108 POUND11.06 109,956 0.10%
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Open Market
Sale
--------------------------------------------------------------------------------------------------------------Chief
Financial
William C. Phelps Officer April 12, 2012 50,000 C$17.37 1,627,260 1.42%
L. Barnaby Smith Chairman April 12, 2012 18,000 C$17.08 109,956 0.10%
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Note: Mr. Phelps transferred 50,000 shares to a family trust at current market values on April 12, 2012. Mr. Bartley transferred 58,000 shares to a family member at current market values on April 12, 2012.
After accounting for the transactions listed above, Directors & Officers own a total of 3,696,646 Common Shares of the Company, or 3.24% of outstanding shares based on total shares issued and outstanding of 114,225,477
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.
CONTACT: Coastal Energy Company
Email: investor@CoastalEnergy.com
+1 (713) 877-6793
Strand Hanson Limited (Nominated Adviser)
Rory Murphy
Paul Cocker
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Macquarie Capital (Europe) Limited (Broker)
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Jeffrey Auld
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FirstEnergy Capital LLP (Broker)
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Travis Inlow
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