Mr. L. Barnaby Smith reports
COASTAL ENERGY ANNOUNCES INSIDER TRANSACTIONS
Coastal Energy Company has been notified of the purchase transactions in the company's common shares summarized in the attached table.
Shareholder Title Transaction Shares this Transaction Shares owned % of total
date transaction price outstanding
William C. Phelps Chief financial officer April 12, 2012 50,000 $3.94 1,627,260 1.42%
Open market purchase
L. Barnaby Smith Chairman April 12, 2012 4,108 11.06 109,956 0.10%
Open market sale
William C. Phelps Chief Financial Officer April 12, 2012 50,000 $17.37 1,627,260 1.42%
L. Barnaby Smith Chairman April 12, 2012 18,000 $17.08 109,956 0.10%
Mr. Phelps transferred 50,000 shares to a family trust at current market values on April 12, 2012. Randy Bartley transferred 58,000 shares to a family member at current market values on April 12, 2012.
After accounting for the transactions listed herein, directors and officers own a total of 3,696,646 common shares of the company, or 3.24 per cent of outstanding shares based on total shares issued and outstanding of 114,225,477.
Additional information, including the company's complete competent person's report, may be found on the company's website or may be found in documents filed on SEDAR.