Callon Petroleum Declares Preferred Stock Dividend

Callon Petroleum Company (NYSE: CPE)(NYSE: CPE.PrA) announced that its Board of Directors authorized quarterly dividends to be paid October 15, 2004 to shareholders of record on September 30, 2004 of its $2.125 Convertible Exchangeable Preferred Stock, Series A.

The dividend will be $0.53125 per share.