Callon Petroleum Enters Into Shelf Drilling Program With Unocal Corporation.Business Editors NATCHEZ, Miss.--(BUSINESS WIRE)--Feb. 28, 2001 Callon Petroleum Company (NYSE NYSE See: New York Stock Exchange :CPE (Customer Premises Equipment) Communications equipment that resides on the customer's premises. CPE - Customer Premises Equipment )(NYSE:CPE.PrA) announced today it has entered into a three-well Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east shelf drilling program with Unocal Corporation Union Oil Company of California, dba Unocal is a defunct company that was a major petroleum explorer and marketer beginning in the late 19th century, through the 20th century and into the early 21st century. (NYSE:UCL UCL University College London UCL Université Catholique de Louvain UCL UEFA Champions League UCL Upper Confidence Limit UCL University of Central Lancashire UCL Upper Control Limit UCL Unfair Competition Law UCL Ulnar Collateral Ligament ). Sniper Prospect/East Cameron Block 294 - This prospect, in approximately 180 feet of water, contains two objectives between 3,000 feet and 8,000 feet. The R&B Falcon Rig 204 has spud the well and is currently drilling. Unocal is the operator and Callon holds a 50 percent working interest. Guadalupe Peak Guadalupe Peak is the highest point in Texas. It is located in Guadalupe Mountains National Park, part of the Guadalupe Mountains range in southeastern New Mexico and West Texas. Prospect/East Cameron Block 257 - This well, in approximately 160 feet of water, will test objective sands at approximately 8,000 feet. The Guadalupe Peak Prospect is scheduled to be drilled during the second quarter of 2001 following completion of the Sniper Prospect. Unocal is the operator and Callon holds a 50 percent working interest. Shiner shiner: see minnow. shiner Any of several small freshwater fishes (genera Notemigonus and Notropis, family Cyprinidae). The common shiner (Notropis cornutus) is a blue and silver minnow up to 8 in. (20 cm) long. Prospect/Eugene Island Block 215 - This well, in approximately 100 feet of water, will test an Upper Miocene target. The well will be drilled directionally from the Devon Energy Eugene Island Block 215 "C" platform to a total vertical depth of 17,250 feet. The Shiner Prospect is scheduled to be spud in early March 2001. Unocal is the operator and Callon holds a 50 percent working interest. Callon Petroleum Company has been engaged in the exploration, development, acquisition and operation of oil and gas properties in the Gulf Coast region since 1950. This news release contains projections and other 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. 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. |
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