Coastal Energy Company Grants Stock Options

HOUSTON, Jan. 10, 2012 (GLOBE NEWSWIRE) -- Coastal Energy Company (the "Company") (TSX:CEN) (AIM:CEO) announces that it granted a total of 1,538,773 incentive stock options to directors, officers, employees and contractors of the Company, pursuant to the Company's Stock Option Plan on 14 December 2011. These options are exercisable at a price of Cdn $14.04 per share, vest equally over a period of three (3) years and expire five (5) years from the date of award. The following directors and officers were granted the following options.

 

Director / Officer Number of Options
This Grant
Total Options Outstanding
After This Grant
Randy L. Bartley 635,303 4,065,807
William C. Phelps 262,281 939,193
John Griffith 211,428 853,512
Stephen M. Holder 40,799 305,272
Jerry A. Moon, Jr. 73,739 434,052
Subtotal directors and officers 1,223,550 6,597,836
     
All other directors and officers    
All other employees 315,223 1,950,957
     
Total all options 1,538,773 8,548,793

As at December 31, 2011 the Company had 113,605,881 shares of common stock issued and outstanding.

In addition, the Company granted a total of 205,628 restricted stock units ("RSUs") to directors, officers, employees and contractors of the Company, pursuant to the Company's Restricted Stock Unit Plan on 14 December 2011. These RSUs vest equally over a period of three (3) years. The following directors and officers were granted the following RSUs:

 

Director / Officer Number of RSUs
This Grant
Total RSUs Outstanding
After This Grant
Randy L. Bartley 66,899 66,899
William C. Phelps 27,069 27,069
John Griffith 20,321 20,321
Stephen M. Holder 5,414 5,414
Jerry A. Moon, Jr. 9,745 9,745
Subtotal directors and officers 129,448 129,448
     
All other directors and officers 37,897 37,897
All other employees 38,283 38,283
     
Total all RSUs 205,628 205,628

The Coastal Energy Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10062

These securities have not been registered under United States Securities Act of 1933 (the "US Securities Act") or the securities laws of any state and may not be offered or sold in the United States or to US persons (as defined in Regulation S under the US Securities Act) unless an exemption from registration is available.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

CONTACT: Coastal Energy Company

         Email: investor@CoastalEnergy.com

         +1 (713) 877-6793



         Strand Hanson Limited (Nominated Adviser)

         +44 (0) 20 7409 3494

         Rory Murphy

         Paul Cocker



         Stifel Nicolas Weisel (Broker)

         +44 (0) 20 3205 3615

         Paul Colucci



         Macquarie Capital (Europe) Limited (Broker)

         +44 (0) 20 3037 2000

         Ben Colegrave

         Paul Connolly



         Buchanan Communications

         +44 (0) 20 7466 5000

         Tim Thompson

         Katharine Sutton

         Ben Romney

Coastal Energy Company Logo

Source: Coastal Energy Company

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