Exhibit 99.2 - Instructions for Purchasing Stock


                     Coastal Caribbean Oils & Minerals, Ltd.


                                  INSTRUCTIONS
                                       FOR
                                   PURCHASING
                                      STOCK







The following instructions are intended to assist you in completing the enclosed
SUBSCRIPTION CARD. We urge you to read the enclosed PROSPECTUS before completing
the SUBSCRIPTION CARD.

IF AFTER READING THESE INSTRUCTIONS YOU HAVE ADDITIONAL  QUESTIONS ABOUT FILLING
OUT THE SUBSCRIPTION CARD PLEASE CALL MORROW AND CO. CALL TOLL-FREE .

Please  refer to the Sample  Subscription  Card for the  location of the circled
numbers that are referred to in the instructions.

STEP 1
You are  entitled  to purchase __ share for every ( )shares of common  stock you
held of record at the close of business on , 2000.  The number of shares you own
of record,  divided by ___,  is printed in the upper  right hand  corner of the
SUBSCRIPTION  CARD (1). For example,  if you own of record___ shares,  then the
number___is printed as the GUARANTEED ALLOTMENT.  When you have determined the
number of shares you wish to purchase from the Guaranteed Allotment,  enter that
amount in Box A (2).  The  amount  in Box A may not  exceed  the  amount of your
Guaranteed Allotment (1).

STEP 2
If you have subscribed for the entire amount of your  Guaranteed  Allotment (1),
then you may also subscribe for the purchase of additional  shares which are not
subscribed for by other shareholders.  This Contingent  Allotment may not exceed
three times the amount of the Guaranteed Allotment. The amount of the Contingent
Allotment is printed (3) under the amount of your Guaranteed  Allotment.  If you
wish to purchase  any of these  additional  shares,  please enter the number you
wish to  purchase in Box B (4).  The amount in Box B may not exceed  three times
the  amount  in Box A. In the  case  of an  oversubscription  of the  Contingent
Allotment,  shares will be issued on a prorata basis,  and  appropriate  refunds
will be made by the subscription agent.

STEP 3
Multiply the amount in Box A times $____________(the subscription price per
share) and enter the result in Box D (5).

STEP 4
Multiply the amount, if any, in Box B times $_____________(the subscription
price per share) and enter the result in Box E (6).

STEP 5
Add the  amount,  if any,  in Box D (5) and the amount due, if any, in Box E (6)
AND ENTER THE TOTAL IN BOX F (7).

STEP 6
Make check payable to American Stock Transfer & Trust Company for the amount due
in Box F (7).

STEP 7
Sign the SUBSCRIPTION CARD in the area indicated (8). All registered owners must
sign exactly as their names appear on the SUBSCRIPTION CARD (9).

STEP 8
Send the  completed  SUBSCRIPTION  CARD and check in payment of amount due (make
check payable to American Stock  Transfer & Trust Company) to Coastal  Caribbean
Oils & Minerals,  Ltd., c/o American  Stock  Transfer & Trust  Company,  40 Wall
Street, New York, N.Y. 10005.  Properly completed  SUBSCRIPTION CARDS and checks
must be received by 4:30 p.m. Eastern Daylight Time on , 2000.

A postage paid REPLY ENVELOPE is provided for your convenience in returning your
SUBSCRIPTION CARD and payment.