2012-11-28 20:01:32 -
NATCHEZ, MS, (NOVEMBER 28, 2012) - Callon Petroleum Company (NYSE:CPE) ("Callon"
or the "Company") announced earlier today its subsidiary, Callon Petroleum
Operating Company, has entered into an agreement to sell its 11.25% working
interest in the Habanero field (Garden Banks Block 341) to Shell Offshore Inc.,
a subsidiary of Royal Dutch Shell plc (NYSE:RDS.B), for a contemplated base
purchase price of USD $42 million. The previous release reported that Callon's
net interest in the Habanero field produced approximately 506 million cubic feet
of natural gas per day during the month of October 2012. The previous release
is being amended to reflect that Callon's net interest in the Habanero field
produced 506 thousand cubic feet of natural gas per day during the month of
Callon Petroleum Company is engaged in
the acquisition, development, exploration
and operation of oil and gas properties in Texas, Louisiana and the offshore
waters of the Gulf of Mexico.
This news release is posted on the Company's website at www.callon.com and will
be archived there for subsequent review. It can be accessed from the "News
Releases" link on the top of the homepage.
This news release contains projections forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements include all
statements regarding reserves, and the completion of asset sales and related use
of proceeds, as well as statements including the words "believe,"
"plans" and words of similar meaning. These projections and statements reflect
the Company's current views with respect to future events and financial
performance. No assurances can be given, however, that these events will occur
or that these projections will be achieved, and actual results could differ
materially from those projected as a result of certain factors. Some of the
factors which could affect our future results and could cause results to differ
materially from those expressed in our forward-looking statements are discussed
in our filings with the Securities and Exchange Commission, including our Annual
Reports on Form 10-K, available on our website or the SEC's website at
For further information contact
Rodger W. Smith, 1-800-451-1294
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Callon Petroleum Company via Thomson Reuters ONE