X0201 4 2003-10-30 0 0000928022 CALLON PETROLEUM CO CPE 0001188196 MAYFIELD ROBERT A 200 NORTH CANAL STREET NATCHEZ MS 391203212 0 1 0 0 Corporate Secretary Common Stock 2003-10-30 2003-10-30 5 I 0 2531 7.90 A 6891.00 I By 401(k) Common Stock 16250.00 D Stock Option (Right to Buy) 10.00 1995-01-14 2004-07-14 Common Stock 9000.00 9000.00 D Stock Option (Right to Buy) 9.00 1999-09-05 2009-03-05 Common Stock 7000.00 7000.00 D Stock Option (Right to Buy) 10.50 2000-09-23 2010-03-23 Common Stock 17500.00 17500.00 D Stock Option (Right to Buy) 4.50 2003-01-13 2012-07-12 Common Stock 4800.00 4800.00 D Stock Option (Right to Buy) 3.70 2003-02-24 2012-08-23 Common Stock 3250.00 3250.00 D Stock Option (Right to Buy) 12.00 1997-02-23 2006-08-23 Common Stock 16000.00 16000.00 D The shares were acquired as a result of the reporting person's election to invest in the common stock by liquidating other 401K investments previously owned. The prior Form 4 reported indirect holdings of 4,001 equivalent shares of common stock held within the reporting person's 401-k account as of 07/02/03. Since that time, 2,531 equivalent shares were acquired and his account has increased by 359 shares as a result of market value gains. The ending total number of equivalent shares was determined by dividing the account value attributable to his common stock holdings by the closing price on the NYSE as of 10/30/03. /s/ MAYFIELD, ROBERT A. 2003-10-30