Update of Normal Course Issuer Bid

HOUSTON--(Korea 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.

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

Website: http://www.CoastalEnergy.com

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