FOR IMMEDIATE RELEASE
For further information contact John Weatherly, CFO 1-800-451-1294
Natchez, MS (July 1, 2002)--Callon Petroleum Company ( NYSE: CPE / CPE.PrA) reported today that it has selected Ernst & Young LLP as its independent public accountants, replacing Arthur Andersen LLP.
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.
This news release contains projections and other forward- looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These projections and statements reflect the company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that these projections will be achieved and actual results could differ materially from those projected as a result of certain factors.