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 | |
| 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
