For further information contact
Terry Trovato 1-800-451-1294
FOR IMMEDIATE RELEASE
Callon
Petroleum Company Announces Production Resumes At Medusa, Habanero Fields
Natchez, MS (December 5, 2005)--Callon Petroleum
Company ( NYSE: CPE) announced today that after being shut-in due to Hurricanes
Katrina and Rita production has resumed at both its Medusa and Habanero fields
in the deepwater region of the Gulf of Mexico.
Medusa
Field - Production commenced on
December 4, 2005, and should increase during the next week to pre-Katina rates of
approximately 35,000 barrels of oil (Bo) and 35 million cubic feet (MMcf) of
natural gas per day. The company owns a 15% working
interest.
Habanero Field – Production commenced on November 30, 2005 and should increase during the next week to pre Katrina rates of approximately 13,000 Bo and 21 MMcf per day. Callon owns an 11.25% working interest.
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.
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