Callon Petroleum Company : Callon Petroleum Declares Series A Preferred Dividend

   Callon Petroleum Company : Callon Petroleum Declares Series A Preferred
                                   Dividend

Natchez, MS (June 4, 2013) - Callon Petroleum Company (NYSE: CPE) ("Callon" or
the "Company")  today  announced that  it  has  declared a  cash  dividend  of 
$0.43056 per share, on its 10.0% Series A Cumulative Preferred Stock  ("Series 
A Preferred Stock"). The dividend will be paid on July 1, 2013 to stockholders
of record as  of June  14, 2013.  The Series  A Preferred  Stock is  currently 
listed on the New York Stock Exchange under the symbol "CPE.A."

Callon is engaged in the  acquisition, development, exploration and  operation 
of oil and gas properties in Texas,  Louisiana and the offshore waters of  the 
Gulf of Mexico.

This news release  is posted on  the Company's website  at www.callon.com  and 
will be archived  there for  subsequent review. It  can be  accessed from  the 
"News Releases" link on the top of the homepage.

It should  be noted  that this  news release  contains projections  and  other 
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as  amended, and Section  21E of the  Securities Exchange Act  of 
1934, as amended.  These projections and  statements reflect Callon's  current 
views with respect to future  events and financial performance. No  assurances 
can be given, however, that these events will occur or that these  projections 
will be  achieved  and  actual  results could  differ  materially  from  those 
projected as a  result of  certain factors. Some  of the  factors which  could 
affect our future results  and could cause results  to differ materially  from 
those expressed in our forward-looking statements are discussed in our filings
with the SEC, including our Annual Reports on Form 10-K and Quarterly  Reports 
on  Form  10-Q,   available  on   our  website   or  the   SEC's  website   at 
www.sec.gov.

For further information contact
Rodger W. Smith, 1-800-451-1294

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Source: Callon Petroleum Company via Thomson Reuters ONE
HUG#1707204
 
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