CEO Coastal Eng

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.

Date	Number of Common Shares Purchased & Cancelled	Average Purchase Price	Remaining Number of Common Shares Outstanding
June 1 – June 7, 2012	426,250	C$14.6636	113,767,295

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

CONTACT: Coastal Energy Company
         Email: investor@CoastalEnergy.com
         +1 (713) 877-6793
         
         Strand Hanson Limited (Nominated Adviser)
         Rory Murphy / Paul Cocker
         +44 (0) 20 7409 3494
         
         Macquarie Capital (Europe) Limited (Broker)
         Paul Connolly / Jeffrey Auld
         +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