COSTA releases 2009 second quarter results



    CALGARY, Aug. 28 /CNW/ - COSTA Energy Inc. ("COSTA" or the
"Company")(NEX: CEQ.H) has released its financial and operating results for
the three and six months ended June 30, 2009.

    
    SUMMARY
    Three Months Ended June 30, 2009
    (Unaudited)
    -------------------------------------------------------------------------
    Financial ($)

    Net loss and comprehensive loss                                $  87,485
    Net loss per share, basic and diluted                          $    0.02
    -------------------------------------------------------------------------
    Shares

    Weighted average basic and diluted                             5,473,329
    Outstanding at period end                                      7,926,076
    -------------------------------------------------------------------------
    

    The Company experienced a net loss and comprehensive loss of $87,485
($0.02 per share, basic and diluted) for the three months ended June 30, 2009.
    In June, 2009, COSTA closed a non-brokered private placement of 3,600,000
common shares at $0.05 per share for total consideration of $180,000 before
cash issue costs of $5,813. Management and directors of COSTA acquired 700,000
common shares at $0.05 per share for consideration of $35,000. The Company
issued finder's fees of $1,300 and 130,000 broker warrants pursuant to the
private placement. Each broker warrant entitles the holder to acquire one
common share at an exercise price of $0.065 per share on or before June 1,
2010.

    
    About COSTA
    -----------
    
    COSTA is currently inactive as it considers alternatives for the future
of the Company. COSTA is positioning itself for a change of business and/or
reverse takeover transaction. Until October 2008, COSTA was engaged in
acquisition, exploration, development and production of petroleum and natural
gas reserves in Canada. The Company currently has no operating assets.
    COSTA's interim report, management's discussion and analysis and
financial statements for the quarter ended June 30, 2009 are available on
www.sedar.com and the Company's website at www.costaenergy.com.

    
    Neither TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.
    





For further information:

For further information: Requests for shareholder information should be
directed to: Mr. David F. Campbell, President and Chief Executive Officer,
COSTA Energy Inc., (403) 242-5676, Email: dcampbell@costaenergy.com

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COSTA ENERGY INC.

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