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THIS FINANCIAL DATA SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS OF CALLON PETROLEUM COMPANY FOR THE PERIOD ENDING MARCH 31, 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 3-MOS DEC-31-1997 MAR-31-1997 10,679 0 9,836 0 0 21,325 366,015 270,455 122,271 16,366 0 0 13 58 80,854 122,271 12,474 12,781 0 7,366 0 0 111 5,415 1,733 2,983 0 0 0 2,983 0.47 0.39