Callon Petroleum Co.

Callon Petroleum Co., Natchez, Miss., (NYSE: CPE) has retained Merrill Lynch Petrie Divestiture Advisors to seek a partner in the Gulf of Mexico. Callon owns a 100% interest in the Entrada Field, located deepwater GOM, which includes five federal offshore blocks at Garden Banks 738, 782, 785, 826 and 827. Two discovery wells and seven delineation wells have been drilled. Estimated proved reserves are 17.5 million barrels of oil and 87.1 billion cubic feet of gas. Proved plus probable reserves are estimated at 56.6 million barrels of oil equivalent. Contact Joe Gatto, 713-759-2526.