Callon Successful Bidder On 8 Blocks At OCS Lease Sale No. 177.Business Editors NATCHEZ, Miss.--(BUSINESS WIRE)--Aug. 23, 2000 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), participating on its own and with partners, was the apparent high bidder on eight offshore tracts at 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. (OCS) Lease Sale No. 177 conducted by the U.S. Department of the Interior's Minerals Management Service in New Orleans. Of the eight offshore tracts, six are located on the shelf and two are in the deepwater region of the 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 . Deepwater tracts on which the company was the apparent high bidder include Garden Banks Block 738, bid jointly with Murphy Oil Corporation (NYSE:MUR Mur (m  r), Hung., Slovenian, and Croatian Mura (m `rä), river, c. ), and Garden Banks Block 653, bid jointly with Vastar Resources, Inc. (NYSE:VRI). Callon participated for a 10 percent working interest in Garden Banks Block 738 and a 20 percent working interest in Garden Banks Block 653. The six blocks located on the shelf and bid 100 percent by Callon include Galveston 271 and 284, Matagorda 710, North Padre Island 913, and Mustang Island 872 and 873. Bids are subject to approval by the Minerals Management Service. 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. |
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