X0202 4 2006-03-16 0 0000928022 CALLON PETROLEUM CO CPE 0001191296 WEATHERLY B F 200 NORTH CANAL STREET NATCHEZ MS 391203212 1 0 0 0 Common Stock 2006-03-16 2006-03-16 5 J 0 2288 0 D 0.00 D Common Stock 2006-03-16 2006-03-16 5 J 0 2288 0 A 2288.00 I By IRA Common Stock 2006-03-16 2006-03-16 5 M 0 5000 13.75 A 5747.00 I Jt. Ten. with Spouse Common Stock 2006-03-16 2006-03-16 5 F 0 3554 19.35 D 2193.00 I Jt. Ten. with Spouse Stock Option (Right to Buy) 13.75 2006-03-16 2006-03-16 5 M 0 5000 0 D 1996-12-20 2006-06-20 Common Stock 5000.00 0.00 D 2004 Performance Shares 13.71 2005-05-05 2014-07-14 Common Stock 20000.00 20000.00 D Stock Option (Right to Buy) 12.00 1997-02-23 2006-08-23 Common Stock 20000.00 20000.00 D Stock Option (Right to Buy) 15.31 1997-12-20 2007-06-20 Common Stock 5000.00 5000.00 D Stock Option (Right to Buy) 9.47 1998-11-29 2008-05-29 Common Stock 5000.00 5000.00 D Stock Option (Right to Buy) 10.97 1999-10-30 2009-04-23 Common Stock 5000.00 5000.00 D Stock Option (Right to Buy) 13.56 2000-11-10 2010-05-10 Common Stock 5000.00 5000.00 D Stock Option (Right to Buy) 10.50 2001-01-25 2010-07-25 Common Stock 20000.00 20000.00 D Stock Option (Right to Buy) 11.61 2001-11-05 2011-05-04 Common Stock 5000.00 5000.00 D Stock Options (Right to Buy) 5.12 2003-11-03 2013-05-02 Common Stock 5000.00 5000.00 D Stock Option (Right to Buy) 12.40 2004-11-08 2014-05-06 Common Stock 5000.00 5000.00 D Stock Option (Right to Buy) 13.71 2005-11-05 2015-05-05 Common Stock 5000.00 5000.00 D Stock Option (Right to Buy) 6.05 2002-11-09 2012-05-08 Common Stock 5000.00 5000.00 D Correction of ownership - Shares previously reported as being owned directly by the holder are actually being held in his IRA account. By: Robert A. Mayfield as Attorney-in-fact for 2006-03-17