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THE FINANCIAL DATA SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED FINANCIAL STATEMENTS OF CALLON PETROLEUM COMPANY FOR THE PERIOD ENDED SEPTEMBER 30, 1996 WHICH ARE PRESENTED IN ITS QUARTERLY REPORT ON FORM 10-Q AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.

1,000 9-MOS DEC-31-1996 SEP-30-1996 8,709 0 8,401 0 0 17,259 341,388 264,658 99,923 14,291 0 0 13 58 76,197 99,923 18,578 19,115 0 15,695 0 0 184 3,236 0 3,236 0 0 0 3,236 0.20 0.20