Callon Petroleum Company Announces 9M Common Stock Offering

Callon Petroleum Company CPE ("Callon" or the "Company") today announced that it has commenced, subject to market and other conditions, an underwritten public offering of 9,000,000 shares of its common stock. The underwriter will have an option to purchase up to an additional 1,350,000 shares of common stock from the Company. All of the shares to be sold in this offering will be sold by the Company. Callon intends to use the net proceeds from this offering to repay amounts outstanding under its credit facility, with any remainder being used for general corporate purposes, which may include funding of its capital program and future acquisitions. J.P. Morgan is acting as sole book-running manager for the offering. The underwritten public offering will be made only by means of a prospectus supplement and accompanying base prospectus. You may obtain these documents for free by visiting EDGAR on the Securities and Exchange Commission's website at www.sec.gov. Alternatively, copies may be obtained from J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone at (866) 803-9204, or by emailing prospectus-eq_fi@jpmchase.com. The common stock will be issued and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. This offering may only be made by means of a prospectus supplement and related base prospectus.