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COURT HOLDS THAT COASTAL MOTION FOR RESTITUTION IS PREMATURE

 COURT HOLDS THAT COASTAL MOTION FOR RESTITUTION IS PREMATURE
 TALLAHASSEE, Fla., Oct. 14 /PRNewswire/ -- Coastal Petroleum Company said Florida's Leon County Circuit Court has declined to order Mobil Oil Corp. to return $2.1 million, along with $1.2 million in accrued interest, to Coastal.
 The $2.1 million originally was awarded to Mobil for legal costs incurred in the companies' protracted dispute over phosphate mining rights in south-central Florida.
 Subsequently, the cost judgment was twice reviewed by the Florida Supreme Court, which sent the case back to the trial court for the second time five months ago, specifically directing that a further evidentiary hearing be held in accordance with its initial ruling.
 The company said the court's order does not address the merits of the cost judgment award, but simply holds that Coastal's motion for immediate restitution is premature.
 According to a Coastal spokesman, the court said Coastal ultimately may become entitled to some amount of restitution, but declined to direct any recompense pending the yet-to-be-scheduled evidentiary hearing.
 Coastal Petroleum Company is an 87-percent-held subsidiary of Coastal Caribbean Oils & Minerals, Ltd., a public company listed on the Boston Stock Exchange (CCO-B; CCO-BN).
 -0- 10/14/92
 /CONTACT: Arthur B. O'Donnell of Coastal Caribbean Oils & Minerals, 203-525-1202/ CO: Coastal Petroleum Company ST: Florida IN: OIL SU:


SM-TM -- NY085 -- 0094 10/14/92 17:12 EDT
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Date:Oct 14, 1992
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