HOUSTON, July 5, 2012 (GLOBE NEWSWIRE) -- Further to the Coastal Energy
Company's (TSX:CEN) (AIM:CEO) announcement on 23 May 2012 regarding the
implementation of a Normal Course Issuer Bid, which commenced on 25 May
2012 (the "NCIB") the Company provides the following update relating to
common shares in the Company ("Common Shares") purchased, and
subsequently cancelled in accordance with the NCIB.


                                                                                                                      
                                   Number of Common Shares        Average Purchase          Remaining Number of       
              Date                  Purchased & Cancelled               Price             Common Shares Outstanding   
  ----------------------------  -----------------------------  ----------------------  ------------------------------ 
                                                                                                                      
     June 29 -- July 5, 2012                  0                         N/A                     113,302,195           
  ----------------------------  -----------------------------  ----------------------  ------------------------------ 



The Company will provide further updates on a weekly basis from the
date of this announcement.

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


  Enquiries:                                                     
  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)                               
  Hugh Sanderson / Travis Inlow       +44 (0) 20 7448 0200       
                                                                 
  Buchanan                                                       
  Tim Thompson / Ben Romney           +44 (0) 20 7466 5000