Coastal Energy Company Grants Stock Options

News provided by
Coastal Energy Company
Jan. 11, 2012 10:06
HOUSTON--(Korea Newswire)--Coastal Energy Company (the “Company”) (TSX:CEN) (AIM:CEO) announces that it granted a total of 1,538,773 incentive stock options to directors, officers, employees and contractors of the Company, pursuant to the Company's Stock Option Plan on 14 December 2011. These options are exercisable at a price of Cdn $14.04 per share, vest equally over a period of three (3) years and expire five (5) years from the date of award. The following directors and officers were granted the following options.

Director / Officer -- Number of Options This Grant -- Total Options Outstanding After This Grant
----------------------------------------------------------------------------
Randy L. Bartley -- 635,303 -- 4,065,807
William C. Phelps -- 262,281 -- 939,193
John Griffith -- 211,428 -- 853,512
Stephen M. Holder -- 40,799 -- 305,272
Jerry A. Moon, Jr. -- 73,739 -- 434,052
Subtotal directors and officers -- 1,223,550 -- 6,597,836

All other directors and officers All other employees -- 315,223 -- 1,950,957

Total all options -- 1,538,773 -- 8,548,793

As at December 31, 2011 the Company had 113,605,881 shares of common stock issued and outstanding.

In addition, the Company granted a total of 205,628 restricted stock units (“RSUs”) to directors, officers, employees and contractors of the Company, pursuant to the Company's Restricted Stock Unit Plan on 14 December 2011. These RSUs vest equally over a period of three (3) years. The following directors and officers were granted the following RSUs:

Director / Officer -- Number of RSUs This Grant -- Total RSUs Outstanding After This Grant
----------------------------------------------------------------------------
Randy L. Bartley -- 66,899 -- 66,899
William C. Phelps -- 27,069 -- 27,069
John Griffith -- 20,321 -- 20,321
Stephen M. Holder -- 5,414 -- 5,414
Jerry A. Moon, Jr. -- 9,745 -- 9,745
Subtotal directors and officers -- 129,448 -- 129,448

All other directors and officers -- 37,897 -- 37,897
All other employees -- 38,283 -- 38,283

Total all RSUs -- 205,628 -- 205,628

The Coastal Energy Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10062

These securities have not been registered under United States Securities Act of 1933 (the “US Securities Act”) or the securities laws of any state and may not be offered or sold in the United States or to US persons (as defined in Regulation S under the US Securities Act) unless an exemption from registration is available.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Website: http://www.CoastalEnergy.com

Contact

Coastal Energy Company
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Strand Hanson Limited (Nominated Adviser)
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Rory Murphy
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Paul Colucci
 
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Ben Colegrave
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Tim Thompson
Katharine Sutton
Ben Romney

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