Board of Directors

Fred L. Callon

Chairman and Chief Executive Officer

Fred L. Callon has been Chairman of the Board of the Company since May 2004 and President and Chief Executive Officer of the Company since January 1997. Prior to January 1997, he was President and Chief Operating Officer of the Company, positions he had held with the Company or its predecessors since 1984. He has been employed by the Company or its predecessors since 1976. Mr. Callon graduated from Millsaps College in 1972 and received his M.B.A. degree from the Wharton School of Finance in 1974. Following graduation and until his employment by Callon Petroleum Operating Company, he was employed by Peat, Marwick, Mitchell & Co., certified public accountants. He is son of the late Sim C. Callon, one of the Company’s co-founders, and the nephew of the late John S. Callon, the other co-founder. Mr. Callon has been involved in the oil and gas industry most of his life and has developed a wide network of personal and business relationships within the oil and gas industry. We believe that his strong financial background combined with his many years of operational experience throughout changing conditions in the market and industry, provide him with the ability to successfully lead the Company.

L. Richard Flury

Former Chief Executive Gas, Power & Renewables (Retired). British Petroleum plc

Richard Flury was appointed to the Board in 2004. He is a graduate of the University of Victoria (Canada). He spent over 30 years with Amoco Corporation, and later, BP plc, from which he retired as Chief Executive, Gas and Power and Renewables, on December 31, 2001, a position he had held since June of 1999. Prior to Amoco’s merger with BP in 1998, he served in various executive positions and was Chief Executive for Worldwide Exploration and Production and Executive Vice President of Amoco Corporation at the time of the merger. Currently, he is a non-executive member of the Board of QEP Resources, a publicly traded oil and gas company, and the non-executive Chairman of Chicago Bridge and Iron Company, N.V., a publicly-traded engineering, procurement and construction company. Mr. Flury’s has many years of prior experience with a major oil and gas company, as well as his continued involvement in the industry through his other directorship positions, uniquely qualifies him to chair our Compensation Committee and serve on our Board. We believe his executive-level perspective and strategy-making abilities will continue to prove beneficial to the Company.

Committees

Committee Role
Compensation Chair
Audit Member
Nominating & Governance Member
Strategic Planning & Reserves Member

Larry D. McVay

Former Chief Operating Officer TNK-BP Holding (Retired), British Petroleum plc Joint Venture

Larry D. McVay was appointed to the Board in October 2007. From 2003 until his retirement from BP in 2006, he served as Chief Operating Officer of TNK-BP Holding, one of the largest oil producing companies in Russia. Since 2007, Mr. McVay has been a Managing Director of Edgewater Energy, LLC, an oil and gas investment company. From 2000 to 2003, he served as Technology Vice President and Vice President of Health, Safety and Environment for BP. He also led the global E&P Operations Excellence effort for improving the operating efficiency of BP’s upstream operations. Mr. McVay has led a distinguished international oil and gas career spanning 38 years with Amoco, BP and TNK-BP. He worked in various engineering, management and leadership positions with Amoco and BP both domestically and internationally. Mr. McVay earned a mechanical engineering degree from Texas Tech University where he was recognized as a Distinguished Engineer in 1995. In January 2008, he became a member of the board of directors of Praxair, Inc., the largest industrial gases company in North and South America, where he is chairman of the Finance & Pension Committee. In May 2008, Mr. McVay also became a member of the board of directors of Chicago Bridge and Iron, N.V., a publicly traded engineering, procurement, and construction company. Mr. McVay has been directly involved in nearly all aspects of the oil and gas industry, including drilling, production, finance, environmental risk, and safety. As a former senior operating executive at BP, one of the largest global energy companies, Mr. McVay brings the senior executive experience and skills described above, has an in-depth understanding of engineering management and is active in other industry assignments, which keep him fully abreast of trends and current activity in the operational areas in which Callon is pursuing development, which uniquely qualifies him to be a director for Callon. As chairman of the Strategic Planning Committee, Mr. McVay’s intimate knowledge of the E & P industry, particularly the Permian Basin and resource plays, provides invaluable insight in the development of the Company’s long-term strategies.

Committees

Committee Role
Strategic Planning & Reserves Chair
Audit Member
Compensation Member
Nominating & Governance Member

Anthony J. Nocchiero

Former Senior Vice President and Chief Financial Officer, CF Industries, Inc. (Retired)

Anthony J. Nocchiero was first elected to the Board in March 2011. From April 2007 until September 2010, Mr. Nocchiero held the position of senior vice president and Chief Financial Officer for CF Industries, Inc. From July 2005 until March 2007, he was the vice president and Chief Financial Officer for Merisant Worldwide, Inc. From January 2002 to July 2005, Mr. Nocchiero was self-employed as an advisor and private consultant. From January 1999 until December 2001, Mr. Nocchiero served as vice president and Chief Financial Officer of BP Chemicals, the global petrochemical business of BP p.l.c. Prior to that, he spent twenty-four years with Amoco Corporation in various financial and management positions, including service as Amoco’s vice president and controller from April 1998 to January 1999. Mr. Nocchiero holds a B.S. degree in chemical engineering from Washington University in St. Louis and an M.B.A. degree from the Kellogg Graduate School of Management at Northwestern University. Mr. Nocchiero has previous experience serving as a member of the board of directors of various public and private companies including Terra Nitrogen LP, Keytrade AG, Vysis Corporation and the Chicago Chamber of Commerce. He brings to the Company a broad knowledge of the oil and gas industry, as well as extensive experience with finance and M&A related transactions. In addition, Mr. Nocchiero has the accounting or financial management expertise to be considered a “financial expert” as defined and required by the NYSE rules and the Exchange Act. Since joining the Board in 2011, he has provided valuable and constructive strategic insight and has been diligent as chairman of the Nominating & Corporate Governance Committee, and has contributed great chemistry to the operation of the Board as a whole. We believe Mr. Nocchiero’s background as a CFO, as well as his significant oil and gas background and executive management experience developed as part of his long career with Amoco and BP, especially qualifies him for continued service on our Board.

Committees

Committee Role
Nominating & Governance Chair
Audit Member
Compensation Member
Strategic Planning & Reserves Member

Matthew R. Bob

Founder and Managing Member of MB Exploration

Matthew Regis Bob is the founder and Managing Member of MB Exploration and affiliated companies. Prior to forming MB Exploration in 1994, Mr. Bob was Chief Geophysicist at Pitts Oil Company. He began his career at Union Oil Company of California where he held various geological positions. He is a member of the American Association of Petroleum Geologists, the Society of Exploration Geophysicists and the Dallas Petroleum Club, and is a registered Geoscientist in the States of Texas, Mississippi and Louisiana. He holds a B.A. in Geology from St. Louis University, an M.S. in Geology from Memphis University, and is a graduate of Harvard University’s Executive Management Program.

Committees

Committee Role
Nominating & Governance Member
Strategic Planning & Reserves Member

James M. Trimble

Former CEO and President of PDC Energy, Inc.

James M. Trimble has served as CEO and President of PDC Energy, Inc. (NASDAQ: PDCE) since 2011 and a member of its Board of Directors since 2009. Previously, Mr. Trimble held senior management positions at both public and private independent oil and gas companies, including CEO of Grand Gulf Energy Company LLC, Elysium Energy and TexCal Energy. He also served as Senior Vice President of Exploration and Production for Cabot Oil and Gas Corporation for 17 years. Mr. Trimble currently serves on the Board of Directors of Seisgen Exploration, a small exploration and production company in southern Texas, and formerly served on the Board of Directors of Blue Dolphin Energy. Mr. Trimble is a Register Professional Engineer and graduated from Mississippi State University with a degree in Petroleum Engineering.

Committees

Committee Role
Compensation Member
Strategic Planning & Reserves Member

John C. Wallace

Former Chairman, Fred. Olsen Ltd. London, England (Retired)

John C. Wallace has been a member of the Board of the Company since 1994. Mr. Wallace is a Chartered Accountant having qualified with PricewaterhouseCoopers in Canada in 1963, after which he joined Baring Brothers & Co., Limited in London, England. Prior to his retirement in December 2010, he served for over twenty-five years as Chairman of Fred. Olsen Ltd., a London-based corporation that he joined in 1968 and which specializes in the business of shipping, renewable energy and property development. He received his B. Comm degree majoring in Accounting and Economics from McGill University in 1959. In November 2004, he successfully completed the International Uniform Certified Public Accountant Qualification Examination and has received a CPA Certificate from the State of Illinois. Mr. Wallace is also retired from the board of directors of Ganger Rolf ASA and Bonheur ASA, Oslo, both publicly-traded shipping companies with interests in offshore energy services and renewable energy. In May 2012, Mr. Wallace was appointed as a non-executive director to the board of directors of Siem Offshore Inc., a publically traded shipping company in Norway with a fleet of vessels active in the offshore energy sector, and where he is a member of the Audit Committee. As a result of his association with Fred Olsen, Ltd. and various associated or related companies, Mr. Wallace has extensive financial and accounting experience in not only the oil and gas industry, but in a number of other related industries. He held senior management positions and was a member of Fred Olsen’s board of directors for many years. As chairman of the Company’s Audit Committee, he has been exemplary in providing the requisite leadership, care and thoroughness required of the position. Mr. Wallace has been a valuable asset to the Board and we believe that his unique perspective of the risks and rewards in the oil and gas industry will continue to be beneficial to the Board.

Committees

Committee Role
Audit Chair
Compensation Member
Nominating & Governance Member
Strategic Planning & Reserves Member

Michael L. Finch

Chief Financial Officer and a member of the Board of Directors of Stone Energy Corporation

Michael L. Finch served as Chief Financial Officer and a member of the Board of Directors of Stone Energy Corporation from its initial public offering in 1993 until his resignation in 1999. He was affiliated with Stone in a variety of capacities for nineteen years. Prior to his service with Stone, he was employed by Arthur Andersen & Co. in New Orleans, Louisiana from 1976 to 1980. Mr. Finch has been a private investor since 1999. He was licensed as a Certified Public Accountant in 1978 (inactive status at present), and received a Bachelor of Science in Accounting from the University of South Alabama in 1976. Currently, Mr. Finch is an independent director of Petroquest Energy, Inc., a publicly traded oil and gas company. Since his election to Petroquest’s Board in 2003, he has served as chairman of the Audit Committee, as a member of the Compensation Committee, and as a member of the Nominating and Corporate Governance Committee. Mr. Finch has extensive financial and operating experience within our industry, and his background, prior experiences, professional credentials and expertise qualify him as a director and financial expert.

Committees

Committee Role
Nominating & Governance Member