Callon Petroleum Company Clarifies Production Data Related to its Announced Sale of its Deepwater Habanero Interest

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

October 2012.



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,"

"expect,"

"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

www.sec.gov.



For further information contact

Rodger W. Smith, 1-800-451-1294









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     originality of the information contained therein. 

    

Source: Callon Petroleum Company via Thomson Reuters ONE

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