Natchez, MS (January 6, 2000)--Callon Petroleum Company ( NYSE: CPE/CPE.PrA) reported this morning that all equipment and manpower are in place to bring its South Marsh Island Block 261 OCS-G 16337 #2 well under control.
On the afternoon of January 2nd Callon experienced a natural gas blowout while drilling the #2 test well at South Marsh Island Block 261, located approximately 70 miles south of Lafayette, Louisiana, in the Gulf of Mexico. At the time of the initial incident all personnel were safely evacuated from the R & B Falcon/Cliffs Drilling Rig #153, which was drilling the well. Because it is a natural gas well, there is no pollution.
Adverse weather conditions prevented re-boarding of the drilling rig until yesterday. An initial inspection of the rig indicates minimal damage. Preparations are now underway for an attempt to control the well. That operation is expected to commence tomorrow.
Callon Petroleum Company has been engaged in the exploration, development, acquisition and operation of oil and gas properties in the Gulf Coast region since 1950.
For further information contact: Terry Trovato P.O. Box 1287 Natchez, MS 39121 (601) 442-1601terryt@callon.com