X0303 4/A 2007-11-16 2007-11-19 0 0000928022 CALLON PETROLEUM CO CPE 0001191296 WEATHERLY B F 200 NORTH CANAL STREET NATCHEZ MS 391203212 1 1 0 0 Executive Vice President/ CFO Common Stock 2007-11-16 2007-11-16 5 C 0 563 15.85 A 22264.00 I Jt. Ten. with Spouse Common Stock 2007-11-16 5 C 0 11250 15.85 A 33514.00 I Jt. Ten. with Spouse Common Stock 2007-11-16 5 F 0 3539 15.85 D 29975.00 I Jt. Ten. with Spouse Common Stock 460.00 I 401(k) Account Common Stock 2288.00 I IRA Account 2006 Restricted Shares 15.93 2007-11-16 5 C 0 11250 15.85 D 2007-11-16 2010-11-16 Common Stock 11250.00 33750.00 D 2004 Performance Shares 13.82 2005-05-05 2014-07-14 Common Stock 10000.00 10000.00 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 2009-04-30 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 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 Options (Right to Buy) 5.12 2003-11-03 2013-05-02 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 These shares were omitted from the reporting person's original Form 4 and also omitted from nine (9) Form 4's filed by the reporting person subsequent to the filing date of the original Form 4. 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. Restricted shares awarded November 16, 2006. Vesting will occur 25% on each anniversary date beginning on November 16, 2007. Performance Stock awarded July 14, 2004. These shares vest in five equal annual installments beginning on July 14, 2005. By: Robert A. Mayfield as Attorney-in-fact for 2007-11-19