Coastal Energy Company Grants Stock Options

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.

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
         
         Stifel Nicolas Weisel (Broker)
         +44 (0) 20 3205 3615
         Paul Colucci
         
         Macquarie Capital (Europe) Limited (Broker)
         +44 (0) 20 3037 2000
         Ben Colegrave
         Paul Connolly
         
         Buchanan Communications
         +44 (0) 20 7466 5000
         Tim Thompson
         Katharine Sutton
         Ben Romney