Callon reports no major impact from Hurricane Ike

By From staff reports | The Natchez Democrat

Published Sunday, September 21, 2008

NATCHEZ — Callon Petroleum Company (NYSE: CPE) reported today the effect of Hurricane Ike upon its principal production facilities in the Gulf of Mexico.

All of the company’s deepwater offshore drilling and production activities were suspended prior to the arrival of Hurricane Ike, and all employees and contract personnel were safely evacuated prior to the storm.

“We are fortunate that our major deepwater production facilities remained intact through these two serious storms,” said Fred Callon, Chairman and CEO. “However, due to the downtime from being shut in prior to and during the storms, coupled with downstream distribution delays, our overall production for the third quarter and full year will likely be reduced from previously disclosed estimates. We will provide additional information and guidance as the impact from Hurricane Gustav and Hurricane Ike is further quantified.”