As filed with the Securities and Exchange Commission on August 6,  2001
                                                Registration  No 333-36662

                                  United States
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                         POST EFFECTIVE AMENDMENT NO. 1
                                       to
                                    FORM S-1
                             REGISTRATION STATEMENT
                                    UNDER THE
                             SECURITIES ACT OF 1933

                     COASTAL CARIBBEAN OILS & MINERALS, LTD.
             (Exact name of registrant as specified in its charter)
                                     BERMUDA
         (State or other jurisdiction of incorporation or organization)
                                      1330
            (Primary Standard Industrial Classification Code Number)
                                      NONE
                      (I.R.S. Employer Identification No.)
             Clarendon House, Church Street, Hamilton, Bermuda HM CX
                            Telephone (441) 295-1422
        -----------------------------------------------------------------
               (Address including zip code, and telephone number,
        including area code of registrant's principal executive offices)
                         -------------------------------
                             Timothy L. Largay, Esq.
                               MURTHA CULLINA LLP
                              CityPlace, 29th Floor
                                185 Asylum Street
                           Hartford, Connecticut 06103
                            Telephone (860) 240-6017
                       (Name, address, including zip code,
        and telephone number, including area code, of agent for service)

Approximate date of commencement of proposed sale to the public: The sale of
3,411,971 shares of the registrant's common stock covered by this registration
statement was consummated on October 23, 2000. Coastal Caribbean is hereby
amending this registration statement to de-register 8,604,936 shares unsold at
the conclusion of the offering.

If any of the securities being registered on this Form are to be offered on a
delayed or continuous basis pursuant to Rule 415 under the Securities Act of
1933, check the following box. [ ]

If this Form is filed to register additional securities for an offering pursuant
to Rule 462(b) under the Securities Act, please check the following box and list
the Securities Act registration statement number of the earlier effective
registration statement for the same offering. [ ]

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under
the Securities Act, check the following box and list the Securities Act
registration statement number of the earlier effective registration statement
for the same offering. [ ]

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under
the Securities Act, check the following box and list the Securities Act
registration statement number of the earlier effective registration statement
for the same offering. [ ]

          This Post-Effective  Amendment No. 1 to the Registration  Statement on
     Form  S-1  (File  No.   333-36662)  shall  hereafter  become  effective  in
     accordance  with the  provisions of Section 8(c) of the  Securities  Act of
     1933, as amended.


<PAGE>


                          DEREGISTRATION OF SECURITIES

         In accordance with the undertaking of Coastal Caribbean Oils &
Minerals, Ltd. ("Coastal") set forth in the registration statement on Form S-1
(File No. 333-36662), declared effective on September 11, 2000 (the
"Registration Statement"), Coastal is filing this Post-Effective Amendment No. 1
to deregister an aggregate of 8,604,936 shares of its common stock, $.12 par
value, previously registered under the Securities Act of 1933, as amended,
pursuant to the Registration Statement.

         Pursuant to the Registration Statement, 12,016,907 shares of Coastal's
common stock were registered. These shares were registered pursuant to the
Registration Statement in order to be issued to Coastal's stockholders of record
on September 12, 2000 upon the exercise of subscription rights issued to such
stockholders on such date. Upon the conclusion of the rights offering, Coastal
issued a total of 3,411,971 shares of its common stock. Therefore, in accordance
with the undertaking made by Coastal in the Registration Statement to remove
from registration any of the shares of common stock which remained unsold at the
termination of the rights offering, Coastal hereby removes from registration the
securities of Coastal registered but unsold under the Registration Statement.


<PAGE>


                                   SIGNATURES

         Pursuant to the requirements of the Securities Act of 1933, the
registrant has duly caused this Post-Effective Amendment No. 1 to the
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized in the City of Newport Beach, in the State of California, on the
3rd day of August, 2001.

                    COASTAL CARIBBEAN OILS & MINERALS, LTD.
                                  (Registrant)

                  By /s/ Benjamin W. Heath
                     ---------------------------------------------
                     Benjamin W. Heath, President and Chief Executive Officer

 Pursuant to the requirements of the Securities Act of 1933, this amendment to
this registration statement has been signed below by the following persons in
the capacities and on the dates indicated.

            Name             Title                           Date

(i) Principal executive officer:

     /s/Benjamin W. Heath               President, Chief         August 3, 2001
----------------------------------
    Benjamin W. Heath                Executive Officer and
                                           Director

(ii) Principal financial officer and controller or
     principal accounting officer:

     /s/James R. Joyce                    Treasurer               August 3, 2001
----------------------------------
        James R. Joyce

(iii) A majority of the Board of Directors:

     /s/James R. Joyce                                            August 3, 2001
----------------------------------
      James R. Joyce, as Attorney-in-Fact for:

      Graham B. Collis                               Director
      Nicholas B. Dill                               Director
      Benjamin W. Heath                              Director
     Phillip W. Ware                                 Director

     /s/ Timothy L. Largay           Director and Vice            August 3, 2001
--------------------------------------
        Timothy L. Largay               President

         Pursuant to the requirement of the Securities Act of 1933, the
undersigned has signed this registration statement on August 3, 2001.

                           /s/ James R. Joyce
                          ------------------------------
                                 James R. Joyce
                 Authorized Representative in the United States