5

THE FINANCIAL DATA SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED FINANCIAL STATEMENTS OF CALLON PETROLEUM COMPANY FOR THE PERIOD ENDING JUNE 30, 1998 WHICH ARE PRESENTED IN ITS QUARTERLY REPORT ON FORM 10Q AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.

1,000 6-MOS DEC-31-1998 JUN-30-1998 36,923 0 10,824 0 0 1,153 452,479 293,196 209,923 33,630 0 0 13 80 115,138 209,923 20,322 21,225 0 17,287 0 0 983 2,955 1,001 1,954 0 0 0 1,954 0.07 0.07