Coastal Caribbean Oils & Minerals, Ltd. (the "Company") is engaged through its wholly owned subsidiary, in the exploration for and development of oil and gas reserves. The Company's principal asset is its subsidiary, Coastal Petroleum Company ("CPC").

CPC's principal assets are its cash and its non-producing oil and gas leases in the States of North Dakota and Montana, in the Williston Basin. CPC is the lessee under leases covering approximately 8,500 acres of land in southwest North Dakota and leases covering more than 124,000 acres in Montana.  The leases provide for a working interest in all areas covered by the leases.