CEN Claren Energy Corp

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH
UNITED STATES NEWSWIRE SERVICES


Coastal Energy Company (the "Company" or "Coastal") (TSX VENTURE:CEN)(AIM:CEO),
an independent exploration and production company with assets in Thailand,
announces that it has entered into an agreement with a syndicate of underwriters
co-led by Macquarie Capital Markets Canada Ltd., Canaccord Capital Corporation
and Thomas Weisel Partners Canada Inc. and includes Paradigm Capital Inc., RBC
Capital Markets, and CIBC World Markets (collectively the "Underwriters" or
"Syndicate"), whereby the Underwriters have agreed to purchase, on a bought deal
basis, 6,000,000 common shares of Coastal Energy at Cdn$5.00 per common share
("the Offering") to raise gross proceeds of Cdn$30,000,000. The Company will
also grant the Underwriters an option to purchase an additional 900,000 common
shares exercisable at a price of Cdn$5.00 per common share for a period of 30
days from the closing date (the "Over-allotment Option"). If the Over-allotment
option is exercised in full, additional gross proceeds will be approximately
Cdn$4,500,000 for total gross proceeds of Cdn$34,500,000. The Offering is
scheduled to close in November 2009. 


The Company will use the proceeds of the Offering for general corporate purposes.

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. 


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.

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