Callon Petroleum Company announced on October 28, 2009, that it has completed the acquisition of interests in Wolfberry production and development properties located in Crockett, Ector, Midland and Upton Counties, Texas from Ambrose Energy I, Ltd., a subsidiary of ExL Petroleum, LP for $16.25 million pursuant to a Purchase and Sale Agreement dated September 9, 2009.

(c) Exhibits

  Exhibit                            Title of Document
  Number

  99.1     Press release dated October 28, 2009 announcing the completion of the
           acquisition of mineral interests for $16.25 million pursuant to a
           Purchase and Sale Agreement dated September 9, 2009.