5

THE FINANCIAL DATA SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED FINANCIAL STATEMENTS OF CALLON PETROLEUM COMPANY FOR THE PERIOD ENDED SEPTEMBER 30, 1997 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-31-1997 SEP-30-1997 5,939 0 9,621 0 0 16,298 405,067 277,771 156,350 12,672 0 0 13 60 82,809 156,350 29,578 30,740 0 20,786 0 0 945 9,009 2,926 6,083 0 0 0 6,083 0.63 0.62