Update of Normal Course Issuer Bid (6097E)

TIDMCEO

RNS Number : 6097E

Coastal Energy Company

01 June 2012

AIM: CEO June 1, 2012

TSX: CEN

Update of Normal Course Issuer Bid

Further to the Company's 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                       Remaining Number 
                         Shares Purchased   Average Purchase    of Common Shares 
         Date              & Cancelled            Price           Outstanding 
---------------------  ------------------  -----------------  ------------------ 
 
  May 25, 2012 - May 
  31, 2012                   125,900            C$14.9141         114,193,545 
---------------------  ------------------  -----------------  ------------------

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.comor may be found in documents filed on SEDAR at www.sedar.com.

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

This information is provided by RNS