Callon Test Well at West Cameron Block 295 Encounters 150 Net Feet of Pay.NATCHEZ, Miss. -- 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 ) reported today that an exploratory well testing a prospect on West Cameron Block 295 in 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 encountered over 150 net feet of pay in two intervals. A production liner liner /lin·er/ (lin´er) material applied to the inside of the walls of a cavity or container for protection or insulation of the surface. liner see teat cup liner. currently is being run for an anticipated completion. The West Cameron Block 295 #2 exploratory well, located in 48 feet of water, was drilled to a total depth of 15,775 feet. Each pay zone was encountered at the predicted depth and the 150 feet of net pay exceeded the anticipated thickness. First production is expected during the fourth quarter of 2005. "We are pleased with the results of our drilling program so far this year, and look forward to an active second half of 2005," explains Fred Callon, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Callon owns a 20.5% working interest in the well. Callon Petroleum Company has been engaged in the exploration, development, acquisition and production of oil and gas in the Gulf Coast region since 1950. Callon's properties and operations are geographically concentrated in the offshore waters of the Gulf of Mexico. 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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