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 12, 2005
(Date of earliest event reported)

Callon Petroleum Company

(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of
incorporation or organization) 001-14039
(Commission File Number) 64-0844345
(I.R.S. Employer
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))

Section 7 — Regulation FD

Item 7.01. Regulation FD Disclosure

     The following information, including the press releases attached as exhibit 99.1, is being furnished pursuant to Item 7.01 “Regulation FD Disclosure,” not filed, for purposes of Section 18 of the Exchange Act. This information shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

     On September 12, 2005, Callon Petroleum Company issued the press release attached as Exhibit 99.1 announcing updated information with respect to damages from Hurricane Katrina and possible delays in restoring production from various oil and gas producing properties.

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 12, 2005 providing updated information with respect to damages from Hurricane Katrina and possible delays in restoring production from various oil and gas producing properties.

1

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 13, 2005	By:	/s/ Fred L. Callon
		Fred L. Callon
		President and Chief Executive Officer

2

Exhibit Index

Exhibit Number	Title of Document
99.1	Press release dated September 12, 2005 providing updated information with respect to damages from Hurricane Katrina and possible delays in restoring production from various oil and gas producing properties.

3

EX-99.1

Exhibit 99.1

For further information contact
Terry Trovato 1-800-451-1294

FOR IMMEDIATE RELEASE

     Callon Petroleum Company Updates Impact
     To Its Major Production Facilities by Hurricane Katrina

     Natchez, MS (September 12, 2005)—Callon Petroleum Company ( NYSE: CPE) provided an update today on the impact by Hurricane Katrina upon its major production facilities in the Gulf of Mexico.

     Medusa Field — As previously reported, the company’s Spar production facility only incurred minimal damage. It is anticipated that minor repairs to the facility should be completed in two to three weeks. However, downtime may be extended due to damage reported at downstream platforms and facilities operated by others. Callon is in the process of evaluating options to return Medusa to production as soon as possible. The company owns a 15% working interest.

     Habanero Field — Habanero was not affected by Hurricane Katrina. Production resumed on September 3, 2005, and the field currently is producing 13,450 barrels of oil (Bo/d) and 22.3 million cubic feet of natural gas per day (MMcf/d). Callon owns an 11.25% working interest.

     Mobile Blocks 864/908 - Production resumed on September 10, 2005. The wells are currently producing 4.6 MMcf/d. Callon owns a 66.4% working interest in the Mobile Block 864 Unit.

     Mobile Blocks 952/953/955 — Production is still shut in while waiting on the arrival of a jack-up boat needed to make minor repairs. Callon owns a 100% working interest in Mobile Blocks 952, 953 and 955.

     High Island Block 119 Field — The field was not affected by Hurricane Katrina and was returned to production on August 29, 2005. It currently is producing 19.8 MMcf/d and 336 Bo/d. Callon owns a 22.2% working interest.

     “We feel very fortunate to have come through this devastating storm with only minor damage,” notes Fred L. Callon, Chairman and CEO. “We extend our sympathies to all those impacted by Hurricane Katrina. Callon and its employees are contributing their time and financial resources to assist with the relief effort and to help those affected by this tragedy.”

     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.

#