Company Information for Coastal Energy Co

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Company Statement

Coastal Energy Company (formerly Petroworld Corp) was established when Petroworld acquired all outstanding shares of NuCoastal (Thailand) Limited.

Coastal Energy is an international exploration and production company focused on Southeast Asia. The Company's current operations are based in Thailand where it has production from the onshore Phu Horm gas field and oil from the Songkhla field in  the Gulf of Thailand. There are development and exploration opportunities for further gas onshore and more oil offshore.

Coastal Energy Company, as PetroWorld Corp.,was incorporated in the Cayman Islands in May, 2004 and began trading on the London AIM market in January, 2005 and on the Toronto TSX-V in September of the same year. In early 2006 the Company announced a merger with NuCoastal Thailand Limited, a privately owned company with assets in Thailand. The merger was completed in September 2006 and the name of the company changed to Coastal Energy Company.

Operations and Technology

Coastal has a 12.6 per cent interest the Phu Horm gas field which is on Licence L15/43 onshore north east Thailand, in an area known as the Khorat Plateau. As of December 2009 Phu Horm was producing around 12 million cubic feet of gas net to  Coastal (around 2000 boepd). The field started production in November 2006 and currently supplies gas under a 15-year contract to the Nam Phong power station, located approximately 62 kilometres south of the field.

There are thought to be opportunities for development and exploration of further gas resources in three other blocks in the area in which Coastal has an interest, most notably on Block 27/43 which is close to but not contiguous with Block 15/43.

Coastal has established oil production after revisiting a 1968 Premier Oil discovery in the Songkhla field on BlockG5/DA. Coastal now owns 100 per cent o f this licence. As of December 2009 Coastal was on track to produce 10,000 bopd from five development on the Songkhla Main field formally known as the Songkhla A field. The company believes there are further development opportunities on the Songkhla B field. Beyond that another former discovery for which Coastal now holds the licence, the Bua Ban field also in the Gulf of Thailand is thought to hold 21 million barrels of oil. Coastal plans to drill here after exploration drilling in 2010 on Songkhla B.

The Company continues to review new business opportunities on a corporate and asset level. Thailand provides a stable long term base for the Company and a foundation for future growth in Asia. Technical reviews have already been conducted in several other Asian countries including China, Indonesia, Vietnam and India.

Geographical Spread

Thailand

Board of Directors and Key Management

President, CE and Director	Randy L. Bartley
Vice President, CEO	William C. Phelps
Vice President, Controller	Stephen M. Holder
Non-Executive Director	John Zaozirny
Non-Executive Director	C. Robert Black
Non-Executive Director	Bernard de Combret
Non-Executive Director	Olivier de Montal
Non-Executive Director	L. Barney Smith
Non-Executive Director	Forest E. Wylie

Company Address 3355 West Alabama Suite 500 Houston, United States 77098 Telephone: +1 713 877 7125 Email: investor[at]coastalenergy.com Website: http://www.coastalenergy.com

Additional Address/Key Contact North American Office Coastal Energy Company 3355 West Alabama Suite 500 Houston, Texas 77098 Tel: +1 713 877 7125 Thailand Office NuCoastal (Thailand) Limited Unit 2401-2405 24th Floor, 2 Pacific Place 142 Skhumvit Rd., Klongtoey Bangkok, 10110, Thailand Tel: +66 (0) 2 610 0555

Capital Authorised Capital; 250,000,000 Common Shares

Nominated Brokers Macquarie Capital (Europe) Limited Thomas Weisel Partners

Nominated Advisors Strand Partners Limited

Related News

16/02/10 - Coastal Energy Has More Success With The Songkhla B-02 Drilling In The Gulf of Thailand After the Disappointment of The Previous B-01 Well
22/01/10 - Coastal Energy’s First Exploration Well On The Songkhla B Field Offshore Thailand Proves A Little Disappointing But Hopes Remain High For Other Drilling In The Basin
06/01/10 - Coastal Energy Sees A Hiccup In Its Offshore Thailand Oil Output But Expects Its 10,000 bopd Target to Be Restored By End January 2010
03/12/09 - Coastal Energy Releases Q3 Results As It Prepares To Seek Another Pearl Offshore Thailand
14/10/09 - Coastal Energy Has A Slight Hitch With The First Drilling Of Its New Multi Well Programme But Overall The Result Are In Line With Expectations
08/09/09 - Coastal Energy Plans More Wells Over the Coming Months To Build Up Its Production In The Gulf of Thailand

Most Recent Statement

17/02/10 - Operational Update
17/02/10 - Coastal Energy Announces Operational Update
09/02/10 - Operational Update
08/02/10 - Coastal Named as Part of 2010 TSX Venture 50
20/01/10 - Results of Songkhla B-01 Exploration Well
30/12/09 - Operational Update