COASTAL CARIBBEAN OILS & MINERALS, LTD.



                  Supplement to Prospectus Dated April 15, 1996


         This  Supplement to Prospectus  Dated April 15, 1996 describes  certain
events  that took place  subsequent  to the  printing  and  distribution  of the
Company's  Prospectus regarding the sale of 6,672,726 shares of common stock par
value $.12 per share.  This  Supplement  should be read in conjunction  with the
information  included in the Prospectus.  This  Supplement is not an offer;  the
shares  offered by the Company  are  offered  only  through  the  Prospectus  as
supplemented  hereby and only to shareholders of record at the close of business
on April 15, 1996.

Pages 30-31:

     1.  Coastal   Petroleum   Company  v.  State  Department  of  Environmental
Protection (Case No. 95-03833, First District Court of Appeal).  Drilling Permit
Litigation.

         The  First  District  Court  of  Appeal  cancelled  the  oral  argument
scheduled  for May 22,  1996.  On April  26,  1996,  the Court  granted  Coastal
Petroleum's  appeal and reversed the order of the  Department  of  Environmental
Protection (the "Department"),  which had denied Coastal Petroleum's application
for a drilling permit. The Department had denied the permit because the Board of
Trustees  of the  Internal  Improvement  Trust  Fund  (the  "Trustees")  had not
consented to the  drilling.  The Court's  order  granting the appeal will become
final  unless the  Department  petitions  the  Florida  Supreme  Court to invoke
discretionary jurisdiction or seeks to invoke other procedures for review of the
decision.

Page 31-32:

     2. Coastal  Petroleum  Company v. Lawton  Chiles,  (Case Nos.  95-02225 and
905-02628, First District Court of Appeal.) Drilling Permit Litigation.

         On April 19, 1996,  the Trustees  filed a motion for a rehearing of the
April 4 decision and a motion to have the First District Court of Appeal certify
certain questions to the Florida Supreme Court. Those motions were denied on May
10. The Court's order  granting the appeal will become final unless the Trustees
petition the Florida  Supreme  Court to invoke  discretionary  jurisdiction.  On
April 4, 1996, the Court had granted Coastal  Petroleum's  appeals and set aside
the $500 million and $1.9 billion bond requirements.



May 15, 1996