Coastal Energy Responds to Media Reports of Potential Transaction

HOUSTON--(Korea Newswire)--Coastal Energy Company (the “Company”) (TSX:CEN) (AIM:CEO) wishes to comment on media reports regarding a potential transaction between Coastal and Indonesia's state-owned oil company Pertamina. The Company advises that it continuously evaluates strategic alternatives, including but not limited to the potential sale of the Company, to maximize shareholder value. However, there can be no assurance that any transaction will occur.

Website: http://www.CoastalEnergy.com

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