NEWS RELEASES

2007 NEWS RELEASES

December 27, 2007

COSTA Announces New Financing

December 3, 2007

COSTA Property Sale

November 26, 2007

COSTA Releases 2007 Third Quarter Results

October 23, 2007

COSTA Exchanges Non-Voting Shares

August 27, 2007

COSTA Releases 2007 Second Quarter Results

July 23, 2007

COSTA Closes Financing

June 15, 2007

COSTA Announces New Lending Terms and New Financing

June 5, 2007
COSTA Energy Inc. Property Sale

May 28, 2007
COSTA Releases 2007 First Quarter Results

May 14, 2007
COSTA Energy Inc. Director Resigns and Two New Directors Nominated

April 30, 2007
COSTA Releases 2006 Year-End Results

April 19, 2007
COSTA Files NI 51-101 Reserves Data and Other Information

March 29, 2007
Alderson and Macoun Update

February 15, 2007
COSTA Announces Alderson and Drilling Update

January 5, 2007
COSTA Grants Stock Options