HOUSTON, Jan. 26, 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 transactions in the Company's common shares:
| Shareholder | Title |
Transaction Date |
Shares | Price |
Shares Owned Prior to Transaction |
Shares Owned Following Transaction |
% of Total Outstanding |
| Option Exercise | |||||||
| Randy L. Bartley | President & CEO | 01/26/2012 | 176,000 | C$1.35 – C$3.94 | 1,103,500 | 1,247,970 | 1.09% |
| William C. Phelps | CFO | 01/26/2012 | 22,176 | C$1.35 | 1,677,255 | 1,677,260 | 1.47% |
*Note: Messrs. Bartley and Phelps delivered previously owned and fully paid common shares of Coastal Energy Company as consideration for the exercise price of their options. The Company subsequently cancelled these shares.
After accounting for the transactions listed above, Directors & Officers own a total of 3,749,988 Common Shares of the Company, or 3.29% of outstanding shares based on total shares issued and outstanding of 114,056,888.
The Coastal Energy Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10062
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.
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.