---

---

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549

FORM 10-Q/A(Amendment
No. 1)

|                                                                       |                                                                                           
|---------------------------------------------------------------------- | ------------------------------------------------------------------------------------------
|x                                                                      | QUARTERLY
  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 
|                                                                       |                                                                                           
|For the quarterly period ended
  March 31, 2005                       
|                                                                       |                                                                                           
|o                                                                      | TRANSITION
  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|                                                                       |                                                                                           
|For the transition period from
  ________________ to _________________
|                                                                       |                                                                                           
|Commission file number 1-4668                                         
|                                                                      
|COASTAL CARIBBEAN OILS & MINERALS, LTD.                               
|                                                                      
|(Exact
  name of registrant as specified in its charter)              

|BERMUDA                                                                              |  | NONE                                  
|------------------------------------------------------------------------------------ |  | --------------------------------------
|                                                                                     |  |                                       
|(State
  or other jurisdiction of incorporation or organization)                     |  | (I.R.S.
  Employer Identification No.)
|                                                                                     |  |                                       
|Clarendon
  House, Church Street, Hamilton, Bermuda                                  |  | HM
  11                               
|                                                                                    
|(Address
  of principal executive offices)                                           |  | (Zip
  Code)                          
|                                                                                     |  |                                       
|(850)
  653-9165                                                                    
|                                                                                    
|(Registrants
  telephone number, including area code)                              
|                                                                                     |  |                                       
|                                                                                    
|(Former
  name, former address and former fiscal year, if changed since last report)

Indicate
by check mark whether the registrant (l) has filed all reports required to be
filed by Section 13 or 15 (d) of the Securities Exchange Act of l934 during the
preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.   x  Yes   o  No

Indicate
by check mark whether the registrant is an accelerated filer (as defined in Rule
12b-2 of the Exchange Act).  o  Yes   x  No

The
number of shares outstanding of the issuers single class of common stock as of
June 30, 2005 was 46,211,604.

1

---

---



COASTAL
CARIBBEAN OILS & MINERALS, LTD.

FORM 10-Q/A

Explanatory
Note:

Coastal
Caribbean Oils and Minerals, Ltd. (the Company) is hereby amending its
previously filed Quarterly Report on Form 10-Q for the quarter ended March 31,
2005 (the Original Report).  This
Amendment No. 1 is being filed solely to amend the language in Item 4. Controls
and Procedures to conform to the requirements of Item 307 of Regulation
S-K.  Conforming changes have also been
made to Exhibits 31.1 and 31.2 included in the Original Report.  Exhibits 32.1 and 32.2 are being currently
dated but are otherwise unchanged from those filed in the Original Report.  No other changes to the Original Report have
been made.  This Amendment No. 1 does
not reflect events occurring after the filing of the Original Report or modify
or update disclosures therein in any way other than as described above.

ITEM 4     Controls and
Procedures

We,
Phillip W. Ware, the principal executive officer and Kenneth M. Cornell, the
principal financial officer, have evaluated the Companys disclosure controls and procedures
(as defined in Rules 13a-14(c) and 15d-14(c) adopted under the Securities Act
of 1934) as of the end of the period covered by this report and have
concluded:

1.     That the Companys disclosure controls and
procedures are effective and adequately designed to ensure that material
information relating to the Company, including its consolidated subsidiary, is
timely made known to such officers by others within the Company and its
subsidiary, particularly during the period in which this Quarterly report is
being prepared; and

2.     That
there were no significant changes in the Companys internal controls or in
other factors that could materially affect or are reasonably likely to
materially affect these controls subsequent to the date of their evaluation,
including any corrective actions with regard to significant deficiencies and
material weaknesses.

---



COASTAL
CARIBBEAN OILS & MINERALS, LTD.
FORM 10-Q/A
PART II - OTHER INFORMATION

March
31, 2005

ITEM 6-          Exhibits

| |      |                                                              
| | ---- | -------------------------------------------------------------
| | 31.1 | Certification pursuant to
  Rule 13a-14 by Phillip W. Ware   
| |      |                                                              
| | 31.2 | Certification pursuant to
  Rule 13a-14 by Kenneth M. Cornell
| |      |                                                              
| | 32.1 | Certification pursuant to
  Section 906 by Phillip W. Ware   
| |      |                                                              
| | 32.2 | Certification pursuant to
  Section 906 by Kenneth M. Cornell

3

---



COASTAL
CARIBBEAN OILS & MINERALS, LTD.

FORM
10-Q/A

March
31, 2005

SIGNATURES

Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.

|                     |                                         |     |                                 | 
|-------------------- | --------------------------------------- | --- | ------------------------------- | 
|                     | COASTAL CARIBBEAN OILS & MINERALS, LTD.
|                     |                                        
|                     | Registrant                             
|                     |                                         |     |                                
|Date:  July 25, 2005 |                                         | By: | /s/ Phillip W. Ware            
|                     |                                         |     |                                 | 
|                     |                                         |     | Phillip W. Ware                
|                     |                                         |     | Chief Executive Officer,       
|                     |                                         |     | President and Treasurer        
|                     |                                         |     |                                
|                     |                                         | By: | /s/ Kenneth M. Cornell         
|                     |                                         |     |                                 | 
|                     |                                         |     | Kenneth M. Cornell             
|                     |                                         |     | Chief Financial Officer        
|                     |                                         |     | and Principal Financial Officer

4

---