/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR
THROUGH UNITED STATES NEWSWIRE SERVICES/
HOUSTON, Aug. 26 /CNW/ - Coastal Energy Company (the "Company" or
"Coastal") (TSX-V: CEN, AIM: CEO), an independent exploration and production
company with assets in Southeast Asia, announces that it has received
government approval of its Environmental Impact Assessment ("EIA") for a 2-D
seismic acquisition program over the Ko Kra and Nakhon basins in the northern
part of the Company's G5/43 Block and covering the entire G5/50 Block in the
Gulf of Thailand.
The Company expects the 4,000 km 2-D seismic acquisition to begin in
mid-September. Processing and interpretation is expected to be complete in the
first quarter of 2010. The Company is obligated to drill one well in the area
in 2010 as part of its concession agreement for Block G5/50.
Randy Bartley, President and Chief Executive Officer of Coastal Energy
"The Ko Kra and Nakhon basins offer exciting long-term exploration
potential. The 2-D seismic acquisition will help us better evaluate the more
prospective areas of the basin and identify the best approach to our
Additional information, including the Company's complete competent
person's report may be found on the Company's website, www.CoastalEnergy.com
or may be found in documents filed on SEDAR, www.sedar.com.
This statement contains 'forward-looking statements' as defined by the
applicable securities legislation. Statements relating to current and future
drilling results, existence and recoverability of potential hydrocarbon
reserves, production amounts or revenues, forward capital expenditures,
operation costs, oil and gas price forecasts and similar matters are based on
current data and information and should be viewed as forward-looking
statements. Such statements are not guarantees of future results and are
subject to risks and uncertainties beyond Coastal Energy's control. Actual
results may differ substantially from the forward-looking statements.
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.
For further information:
For further information: Coastal Energy Company, Randy L. Bartley, Chief
Executive Officer, (713) 877-6705; William C. Phelps, Chief Financial Officer,
(713) 877-6727; Email: investor@CoastalEnergy.com; Strand Partners Limited
(Nominated Adviser), +44 (0) 20 7409 3494, Rory Murphy; Thomas Weisel Partners
(Broker), +44 (0) 20 7877 4300, Paul Colucci; Tristone Capital (Broker), +44
(0) 20 7355 5800, Majid Shafiq; Buchanan Communications, Tim Thompson, +44 (0)
20 7466 5000