Callon Petroleum Company Announces Vince Borrello As Vice President, General Manager – Permian Basin

Callon Petroleum Company (NYSE: CPE) today announced that Vince Borrello has joined the company as Vice President and General Manager - Permian Basin Operations in Midland, Texas, and will be responsible for Callon’s operations and development activities in the Permian Basin.

Borrello is a 14-year resident of Midland, Texas, and has been active in the Permian Basin oil and gas industry for many years. His industry experience includes technical and leadership positions with Texas Oil & Gas Corporation and Marathon Oil Company as well as President and COO of Lothian Oil, which was active in the Wolfberry trend in the Midland Basin.

“We are very fortunate to have Vince join Callon to help lead our Permian operations,” Fred Callon, Chairman and CEO comments. “He is well known and highly respected in the Permian Basin business community. With Vince’s leadership, we will continue to build on our successful track record in the Permian Basin.”

Borrello is an active member of the Society of Petroleum Engineers and a member of the Permian Basin Petroleum Club. He is a graduate of Louisiana State University with a B.S. in Petroleum Engineering and a Registered Professional Engineer in the States of Texas and Oklahoma.

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

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 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. 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 Securities and Exchange Commission, including our Annual Reports on Form 10-K, available on our website or the SEC’s website at www.sec.gov.

Copyright Business Wire 2010

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