Callon Test Well at West Cameron Block 295 Encounters 150 Net Feet of Pay

Callon Petroleum reported that an exploratory well testing a prospect on West Cameron Block 295 in the Gulf of Mexico encountered over 150 net feet of pay in two intervals. A production liner currently is being run for an anticipated completion.

The West Cameron Block 295 #2 exploratory well, located in 48 feet of water, was drilled to a total depth of 15,775 feet. Each pay zone was encountered at the predicted depth and the 150 feet of net pay exceeded the anticipated thickness. First production is expected during the fourth quarter of 2005.

"We are pleased with the results of our drilling program so far this year, and look forward to an active second half of 2005," explains Fred Callon, Chairman and CEO.

Callon owns a 20.5% working interest in the well.

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