8-K

UNITED STATES
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
September 20, 2004
(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)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

	Item 8.01. Other Events
	Item 9.01. Financial Statements and Exhibits
SIGNATURES
Exhibit Index
Press Release

Section 8 — Other Events

Item 8.01. Other Events

     On September 20, 2004, Callon Petroleum Company issued the press release attached as Exhibit 99.1 announcing the impact of Hurricane Ivan. Due to damage of a platform work-over rig and other minor damage to the Medusa SPAR production facility, production downtime could be as much as five weeks. In the Mobile Bay Area, minor damage occurred and we anticipate production will be restored within the next 10 to 14 days.

Section 9 — Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits

     (c) Exhibits

Exhibit Number	Title of Document
99.1	Press release dated September 20, 2004 announcing damage from Hurricane Ivan and its estimated impact on future production.

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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
September 21, 2004	By:	/s/ John S. Weatherly
		John S. Weatherly
		Senior Vice President and Chief Financial Officer

Exhibit Index

Exhibit Number	Title of Document
99.1	Press release dated September 20, 2004 announcing damage from Hurricane Ivan and its estimated impact on future production.

EX-99.1

EXHIBIT 99.1

For further information contact
John S. Weatherly, CFO 1-800-451-1294

FOR IMMEDIATE RELEASE

      Callon Petroleum Company Reports
      Impact of Hurricane Ivan

     Natchez, MS (September 20, 2004)—Callon Petroleum Company ( NYSE: CPE / CPE.PrA) reported today the impact of Hurricane Ivan upon its major production facilities in the Gulf of Mexico.

     Medusa Field — A platform work-over rig that incurred damage will have to be removed from the Medusa SPAR production facility. Production downtime at the Medusa Field, located in Mississippi Canyon Blocks 538 and 582, could be as much as five weeks. The Medusa SPAR production facility incurred minor damage that will also be repaired during that time. Callon owns a 15% working interest and Murphy Oil Corporation (NYSE:MUR) is the operator.

     Mobile Bay Area — Production facilities at Mobile Blocks 864, 952, 953 and 955 incurred minor damage. It is anticipated that a majority of the Mobile area production will be online within the next week. Callon owns a 66.4% working interest in the Mobile Block 864 Unit and a 100% working interest in Mobile Blocks 952, 953 and 955.

     Callon Petroleum Company has been engaged in the exploration, development, acquisition and production of oil and gas in the Gulf Coast region since 1950. Callon’s properties and operations are geographically concentrated in the offshore waters of the Gulf of Mexico.

     This news release contains projections and other forward-looking statements 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.

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