UPDATE -- Coastal Energy Responds to Media Reports of Strategic Discussions

HOUSTON, Sept. 17, 2013 (GLOBE NEWSWIRE) -- Coastal Energy Company (the "Company") (TSX:CEN) (AIM:CEO) wishes to comment on media reports regarding strategic discussions between Coastal and a third party. The Company advises that it continuously evaluates opportunities to maximize shareholder value. The Company advises that there is no transaction to announce and if the Company enters into any material transaction it will announce it immediately.

CONTACT: Coastal Energy Company
         Email: investor@CoastalEnergy.com
         +1 (713) 877-6793
         
         Strand Hanson Limited (Nominated Adviser)
         Rory Murphy / Andrew Emmott
         +44 (0) 20 7409 3494
         
         Macquarie Capital (Europe) Limited (Broker)
         Steve Baldwin/Andrew Jones
         +44 (0) 20 3037 2000
         
         FirstEnergy Capital LLP (Broker)
         Hugh Sanderson / Travis Inlow
         +44 (0) 20 7448 0200
         
         Buchanan
         Tim Thompson / Ben Romney
         +44 (0) 20 7466 5000