Update of Normal Course Issuer Bid

HOUSTON--(Korea Newswire)--Further to Coastal Energy Company's (AIM:CEO) (TSX:CEN) 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 : May 25, 2012 – May 31, 2012
Number of Common Shares Purchased & Cancelled : 125,900
Average Purchase Price : C$14.9141
Remaining Number of Common Shares Outstanding : 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.com or may be found in documents filed on SEDAR at www.sedar.com.

Website: http://www.CoastalEnergy.com

This is a news release distributed by Korea Newswire on behalf of this company.