Exhibit 99.2 - Instructions for Purchasing Stock


                     Coastal Caribbean Oils & Minerals, Ltd.


                                  INSTRUCTIONS
                                       FOR
                                   PURCHASING
                                      STOCK




<PAGE>


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
(800) 662-5200 OR (212) 754-8000.

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 3 shares for every 10 shares of common stock you
held of record at the close of business on September 12, 2000.  The number of
shares you own of record,multiplied by 30%,  is printed in the upper right hand
corner of the SUBSCRIPTION  CARD (1). For example,  if you own of record 300
shares,  then the number 90 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 $1.00 (the subscription price per
share) and enter the result in Box D (5).

STEP 4
Multiply the amount, if any, in Box B times $1.00 (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
to American Stock Transfer & Trust  Company, 59 Maiden Lane,
New York, NY 10007.  Properly completed  SUBSCRIPTION CARDS and checks must be
received by 4:30 p.m. Eastern Daylight Time on October 23, 2000.

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