Exhibit 99.1 - Form of Subscription Card


               Nontransferable Subscription Card            GUARANTEED ALLOTMENT
               COASTAL CARIBBEAN OILS & MINERALS, LTD.      CONTINGENT ALLOTMENT
                                                   NONTRANSFERABLE
                    VOID UNLESS DELIVERED IN ACCORDANCE WITH THE TERMS OF THE
                  PROSPECTUS BEFORE 4:30 P.M., EASTERN DAYLIGHT TIME, ON , 2000
    Please  fill in the amount  due and  number of shares you wish to  purchase,
which may not exceed  amounts in upper right hand corner of this card.  Refunds,
as set forth in the Prospectus,  will be made by the  subscription  agent in the
event the offering is oversubscribed.


                          (1)               (2)
              ---------------------------------------------
                         Shares         Amount due
           Allotment  Subscribed For   ($1.00 x col 1)
              ---------------------------------------------
              ---------------------------------------------
           Guaranteed               A                 D
              ---------------------------------------------
              ---------------------------------------------
           Contingent*              B                 E
              ---------------------------------------------
              ---------------------------------------------
           Total                    C                 F
              ---------------------------------------------
           *May not exceed three times the amount in Box A above.
           BE SURE TO COMPLETE BOTH SIDES OF THIS CARD BEFORE MAILING










     RETURN TO THE SUBSCRIPTION AGENT:

        To exercise your subscription  rights,  complete both sides of this card
     and  return  with full  payment  (make  checks  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.  Delivery must be made before 4:30 p.m.,  Eastern Daylight Time, New
     York, N.Y. on , 2000.
                                                  I (We)  hereby  subscribe  for
                                              the number of shares of the common
                                              stock of Coastal  Caribbean Oils &
                                              Minerals,  Ltd.,  as  indicated in
                                              Column (1) on the opposite side of
                                              this   subscription  card  and  in
                                              accordance    with    the    terms
                                              specified   in   the    Prospectus
                                              relating hereto,  receipt of which
                                              is hereby acknowledged.


 ........................                  ........................
 Signature of Shareholder                  Signature of Shareholder
                                              (if jointly held)

           BE SURE TO COMPLETE BOTH SIDES OF THIS CARD BEFORE MAILING