Need advice about coalesce and deallocate unused space

Hi experts;
Here looking for an advice about coalesce and deallocate unused space.
I got this tablespace with 87% full, one of the table in that tablespace has 1,150,325 records.  I'm going to delete 500,000 records from that table, but to release the space used by those records I understand that I need to execute other procedure. I was reading about coalesce tablespace and deallocate unused space.
I found that apparently, both process can help me to free space. If you want to share with me your comments, about  advantages or disadvantages about them, in order I can take the best solution?
Thanks for your comments.
Al

Hi
after deleted rows, the high water mark is still the same and so the size of the table. you need to bring down the water mark
here is what you need to do to bring down the high water mark. We do this monthly for performance purpose.
This is an EBS R12 system  but the procedures are the same for EBS database or non EBS database.
After you purge or delete data in a table
1) alter table APPLSYS.WF_ITEM_ATTRIBUTE_VALUES move; <-- this operation will invalidate all indexes attache to the table
2)select owner, index_name, status from dba_indexes  -- list all invalid object for user APPLSYS
where table_owner = upper('APPLSYS')
and
status NOT IN ('VALID','N/A');
3)spool idxrebuild.sql --generate script to rebuild indexes.
select 'alter index ' ||owner||'.'||index_name ||' rebuild online;'  from dba_indexes
where table_owner = upper('APPLSYS')
and
status <> 'VALID';
4) run idxrebuild.sql   -- to rebuild indexes.  -- at this point if you check spaces on the table, it is still the same, you need to run #5
5)exec fnd_stats.gather_schema_stats ('APPLSYS');  --fnd_stat is for EBS system you can replace with the database equivalent command.
use this statement to count the block before and after the operation to see the different.
select DISTINCT(SEGMENT_NAME), count(blocks) "Total Block" from dba_extents
where
owner IN ('APPLSYS')
AND segment_name = 'WF_ITEM_ATTRIBUTE_VALUES'
Hope this help.

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