Callon Reports Natural Gas Discovery At East Cameron Block 275.NATCHEZ, Miss.--(BUSINESS WIRE)--Dec. 8, 1999-- 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) today announced a natural gas discovery at East Cameron Block 275, located in the Gulf of Mexico's Outer Continental Shelf In the federal United States, the Outer Continental Shelf (OCS) consists of the submerged lands, subsoil, and seabed, lying between the seaward extent of the States' jurisdiction and the seaward extent of Federal jurisdiction. . Drilled to a measured depth of 10,746 feet, the company's test well encountered net natural gas pay of 160 feet (TVD TVD Tuvalu Dollar (ISO currency code) TVD True Vertical Depth (oil drilling) TVD Total-Variation-Diminishing TVD Total Vertical Depth (oil and gas) ) in five intervals between 5,800 feet and 10,500 feet. Callon owns a 100 percent working interest in the well, which is the company's second Shelf discovery within a month. Its discovery well at South Marsh Island Block 261, which was announced November 30, 1999, encountered 110 feet of net natural gas pay. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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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