HOUSTON, April 13, 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 |
| Option Exercise | ||||||
|
William C. Phelps |
Chief Financial Officer |
April 12, 2012 |
50,000 |
C$3.94 |
1,627,260 |
1.42% |
|
Open Market Purchase |
||||||
|
L. Barnaby Smith |
Chairman |
April 12, 2012 |
4,108 |
£11.06 |
109,956 |
0.10% |
|
Open Market Sale |
||||||
|
William C. Phelps |
Chief Financial Officer |
April 12, 2012 | 50,000 | C$17.37 | 1,627,260 | 1.42% |
|
L. Barnaby Smith |
Chairman |
April 12, 2012 |
18,000 |
C$17.08 |
109,956 |
0.10% |
Note: Mr. Phelps transferred 50,000 shares to a family trust at current market values on April 12, 2012. Mr. Bartley transferred 58,000 shares to a family member at current market values on April 12, 2012.
After accounting for the transactions listed above, Directors & Officers own a total of 3,696,646 Common Shares of the Company, or 3.24% of outstanding shares based on total shares issued and outstanding of 114,225,477
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.