For further
information contact
Terry Trovato
1-800-451-1294
FOR IMMEDIATE RELEASE
Callon Test Well at West Cameron Block 295
Encounters 150 Net Feet of Pay
Natchez,
MS (July 21, 2005)--Callon Petroleum Company ( NYSE: CPE) reported today that an
exploratory well testing a prospect on West Cameron Block 295 in the Gulf of
Mexico encountered over 150 net feet of pay in two intervals. A production
liner currently is being run for an anticipated completion.
The
West Cameron Block 295 #2 exploratory well, located in 48 feet of water, was
drilled to a total depth of 15,775 feet.
Each pay zone was encountered at the predicted depth and the 150 feet of
net pay exceeded the anticipated thickness. First production is expected during the fourth
quarter of 2005.
“We
are pleased with the results of our drilling program so far this year, and look
forward to an active second half of 2005,” explains Fred Callon, Chairman and
CEO.
Callon
owns a 20.5% working interest in the well.
Callon Petroleum Company has been engaged in the
exploration, development, acquisition and production of oil and gas in the
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.
#