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.