X0202 4 2004-11-15 0 0000928022 CALLON PETROLEUM CO CPE 0001188199 WEATHERLY JOHN S 200 NORTH CANAL STREET NATCHEZ MS 391203212 0 1 0 0 Senior V-P and CFO Common Stock 2004-11-15 2004-11-15 5 F 0 5768 12.85 D 51837.00 D Common Stock 9044.00 I By 401(k) Common Stock 109.00 I By Custodian For Child 2004 Performance Shares 0.00 2014-07-14 Common Stock 30000.00 30000.00 D Stock Option (Right to Buy) 12.00 1997-02-23 2006-08-23 Common Stock 65000.00 65000.00 D Stock Option (Right to Buy) 9.47 1999-02-20 2008-08-20 Common Stock 45000.00 45000.00 D Stock Option (Right to Buy) 9.00 1999-09-05 2009-03-05 Common Stock 31000.00 31000.00 D Stock Option (Right to Buy) 10.50 2000-09-23 2010-03-23 Common Stock 58000.00 58000.00 D Stock Option (Right to Buy) 4.50 2003-01-13 2012-07-12 Common Stock 15000.00 15000.00 D Stock Option (Right to Buy) 3.70 2003-02-24 2012-08-23 Common Stock 10000.00 10000.00 D Represents disposition of shares previously reported and subject to certain vesting provisions. Issuer withheld shares to satisfy federal and state withholding tax liability associated with fair market value of securities vested. The number of shares reported is calculated by dividing the total market value of the reporting person's account balance within the Callon Petroleum Company Employee Savings and Protection Plan (401(k) Plan) on the day prior to this Form 4 reporting date by the closing market price per share on that day. Performance Stock awarded July 14, 2004. These shares vest in five equal annual installments beginning on July 14, 2005, subject to deferral at the option of the holder. By: Robert A. Mayfield as Attorney-in-fact for 2004-11-15