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Update Of Normal Course Issuer Bid

HOUSTON, Aug. 23, 2012 (GLOBE NEWSWIRE) -- Further to the Coastal Energy Company's (TSX:CEN) (AIM:CEO) announcement on 23 May 2012 regarding the implementation of a Normal Course Issuer Bid, which commenced on 25 May 2012 (the "NCIB"), the Company provides the following update relating to common shares in the Company ("Common Shares") purchased, and subsequently cancelled in accordance with the NCIB.

       
Date Number of Common Shares Purchased & Cancelled Average Purchase Price Remaining Number of Common Shares Outstanding
  August 16 – August 23, 2012   37,000   C$15.7471   113,257,327

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

Enquiries:  
   
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)  
Hugh Sanderson / Travis Inlow  +44 (0) 20 7448 0200
   
Buchanan  
Tim Thompson / Ben Romney  +44 (0) 20 7466 5000

Coastal Energy Company Logo

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