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THIS FINANCIAL DATA SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED FINANCIAL STATEMENTS OF CALLON PETROLEUM COMPANY FOR THE PERIOD ENDING MARCH 31, 1999 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-31-1999 MAR-31-1999 4,150 0 5,688 0 0 11,486 508,977 349,236 188,457 10,910 0 0 10 85 82,635 188,457 7,969 8,374 0 6,632 0 0 1,027 715 243 472 0 0 0 472 (.04) (.04)