Coastal Energy Co. - 2009-09-28

Closed a new borrowing base credit facility with BNP Paribas and Commonwealth Bank of Australia. The $80-million facility, led by BNP Paribas, is secured by the company's 12.6% interest in the Sinphuhorm gas field onshore Thailand and the Songkhla field in the Gulf of Thailand. The proceeds of the initial drawdown were used to pay amounts outstanding under Coastal's previous debt agreements. Subsequent drawings will be used to fund development of the company's offshore assets.