Coastal Energy Announces Insider Transactions

PDF
Back to: Latest News

HOUSTON, Jan. 18, 2012 (GLOBE NEWSWIRE) -- 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:

 

Shareholder
Title
Transaction Date		 Shares this
Transaction		 Transaction
Price		 Shares
Owned 		 % of Total
Outstanding
Open Market Purchase            
             
Olivier de Montal Director January 17, 2012 10,000 C$15.95 350,000 0.31%
             
L. Barnaby Smith* Chairman January 17, 2012 496 C$16.10  123,488 0.11%
             
Option Exercise            
William C. Phelps Chief Financial Officer January 18, 2012 142,589 C$1.35 — C$3.94 1,677,255 1.47%
             
Open Market Sale            
L. Barnaby Smith* Chairman January 17, 2012 3,000 C$15.96 123,488 0.11%

*Note: Mr. Smith's transactions were a result of personal tax planning which is why there is a sale and a later repurchase on the same day.

After accounting for the transactions listed above, Directors & Officers own a total of 3,605,513 Common Shares of the Company, or 3.17% of outstanding shares based on total shares issued and outstanding of 113,912,413

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.

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

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.

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.

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



         Macquarie Capital (Europe) Limited (Broker)

         +44 (0) 20 3037 2000

         Paul Connolly

         Jeffrey Auld



         FirstEnergy Capital LLP (Broker)

         +44 (0) 20 7448 0200

         Hugh Sanderson

         Travis Inlow



         Buchanan Communications

         +44 (0) 20 7466 5000

         Tim Thompson

         Ben Romney

Coastal Energy Company Logo

Source: Coastal Energy Company

News Provided by Acquire Media

Share Prices