-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AijOOm8TytFO7ZlJtn1ToPQg6W8Ng+6fVl87lhr3QLNVadCNSrx0Zn6m02xt4k8s SeJNMqkd8CZUXLnwcv98FQ== 0000950129-02-004819.txt : 20021001 0000950129-02-004819.hdr.sgml : 20021001 20021001141212 ACCESSION NUMBER: 0000950129-02-004819 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20021001 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: FILED AS OF DATE: 20021001 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CALLON PETROLEUM CO CENTRAL INDEX KEY: 0000928022 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 640844345 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14039 FILM NUMBER: 02778146 BUSINESS ADDRESS: STREET 1: 200 N CANAL ST CITY: NATCHEZ STATE: MS ZIP: 39120 BUSINESS PHONE: 6014421601 MAIL ADDRESS: STREET 1: 200 N CANAL ST CITY: NATCHEZ STATE: MS ZIP: 39120 FORMER COMPANY: FORMER CONFORMED NAME: CALLON PETROLEUM HOLDING CO DATE OF NAME CHANGE: 19940805 8-K 1 h00149e8vk.txt CALLON PETROLEUM COMPANY - DATED 10/1/2002 ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 -------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report October 1, 2002 (Date of earliest event reported) CALLON PETROLEUM COMPANY (Exact name of registrant as specified in its charter) DELAWARE 001-14039 64-0844345 (State or other jurisdiction of (Commission File Number) (I.R.S. Employer incorporation or organization) Identification Number) 200 NORTH CANAL ST. NATCHEZ, MISSISSIPPI 39120 (Address of principal executive offices, including zip code) (601) 442-1601 (Registrant's telephone number, including area code) ================================================================================ ITEM 1. CHANGES IN CONTROL OF REGISTRANT Not applicable ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS Not applicable ITEM 3. BANKRUPTCY OR RECEIVERSHIP Not applicable ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS Not applicable ITEM 5. OTHER EVENTS Not applicable ITEM 6. RESIGNATION OF REGISTRANT'S DIRECTORS Not applicable ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS Exhibits EXHIBIT NUMBER TITLE OF DOCUMENT -------------- ----------------- 99.1 Copy of Callon Petroleum Company's Press Release dated October 1, 2002. ITEM 8. CHANGE IN FISCAL YEAR Not applicable ITEM 9. REGULATION FD DISCLOSURE Callon Petroleum Company made the press release attached hereto as Exhibit 99.1 on October 1, 2002, providing details of additional natural gas hedging transactions. -2- SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CALLON PETROLEUM COMPANY October 1, 2002 By: /s/ James O. Bassi ----------------------------- James O. Bassi Vice President and Controller -3- EXHIBIT INDEX EXHIBIT NUMBER TITLE OF DOCUMENT -------------- ----------------- 99.1 Copy of Callon Petroleum Company's Press Release dated October 1, 2002. EX-99.1 3 h00149exv99w1.txt PRESS RELEASE DATED OCTOBER 1, 2002 EXHIBIT 99.1 CALLON ANNOUNCES ADDITIONAL NATURAL GAS HEDGES Natchez, MS (October 1, 2002)--Callon Petroleum Company (NYSE: CPE / CPE.PrA) today announced it has hedged an additional 2.5 billion cubic feet (Bcf) of its natural gas production during the six-month period from November 2002 through April 2003. The hedges were implemented through a combination of derivative transactions, in the form of no-cost collars, and commitments for physical deliveries at applicable index prices, with floors and ceilings specified for the monthly index prices. The new hedges cover 500 million cubic feet (MMcf) per month for November 2002 through February 2003, providing for a floor price of $3.75 per thousand cubic feet (Mcf) and an average ceiling price of $5.00 per Mcf. In addition, hedges covering 250 MMcf per month for March and April 2003 provide for a floor price of $3.75 per Mcf and a ceiling price of $4.60 per Mcf. Previous hedging transactions by the company cover 2 Bcf of its natural gas production for the eight-month period March through October 2003. These hedges, in the form of no-cost collars, apply to 250 MMcf per month and provide for a floor price of $3.50 per Mcf and an average ceiling price of $4.76 per Mcf. Based upon the company's natural gas production rates for the second quarter of 2002, existing hedges represent 42% of natural gas production for the six-month period November 2002 through April 2003 and 21% of natural gas production for the following six-month period ending October 2003. The company's current natural gas hedges, by calendar quarter, consist of:
VOLUME AVERAGE AVERAGE QUARTER HEDGED FLOOR PRICE CEILING PRICE ENDED (MMcf) (Mcf) (Mcf) ------- ------ ----------- ------------- 12/31/02 1,000 $3.75 $5.05 3/31/03 1,500 $3.71 $4.86 6/30/03 1,000 $3.56 $4.72 9/30/03 750 $3.50 $4.76 12/31/03 250 $3.50 $4.76
Callon Petroleum Company has been engaged in the exploration, development, acquisition and operation of oil and gas properties in the Gulf Coast region since 1950. This news release contains projections and other forward-looking statements, including statements regarding the company's ability to fund its future obligations, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These projections and statements reflect the company'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. # -----END PRIVACY-ENHANCED MESSAGE-----