DALLAS, Sept. 21, 2009 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring oil and gas company Callon Petroleum Company (NYSE: CPE). The report includes financial and investment analysis, analyst consensus, and pertinent industry information you need to know to make an educated investment decision.

The investment report on Callon Petroleum Company (NYSE:CPE) should be of particular interest to other oil and gas companies: Carrizo Oil & Gas Inc. (Nasdaq:CRZO), Brigham Exploration Company (Nasdaq:BEXP), Abraxas Petroleum Corp. (Nasdaq:AXAS) and Mariner Energy Inc. (NYSE:ME).

The full report is available at: http://www.stockpreacher.com/n/CPE

Callon Petroleum Company (CPE) engages in the acquisition, exploration, development and production of oil and gas properties in the onshore and offshore Gulf Coast region of the United States. The Company's properties are also located in Louisiana and Alabama. In the past several years, CPE's activities have been focused in the shelf and deepwater areas of the Gulf of Mexico. Production from wells in this area is characterized by high initial production rates and steep decline curves. In 1998, the Company began exploration of deepwater, and during the fourth quarter of 2003, CPE's first two deepwater projects, the Medusa and Habanero fields, began production.

In the report, the analyst notes:

"The Company recently signed a purchase and sale agreement with ExL Petroleum LP to acquire its interests in 22 producing wells located in Crockett, Ector, Midland and Upton counties of Texas for $16.25 million. CPE estimates the total proven reserves being acquired to be approximately 1.5 million barrels of oil equivalent.

"In March 2009, the New York Stock Exchange notified the Company that it was failing to meet one quantitative requirement for listing on the NYSE. CPE received this notification pursuant to Rule 802.01B(I) of the NYSE Listed Company Manual because the Company's average market capitalization has been less than $75 million over a 30-day trading period and CPE's last reported stockholder's equity was less than $75 million. CPE intends to promptly provide the NYSE with a plan that demonstrates its strategy to return to full compliance with listing standards within 18 months."

To read the entire report visit: http://www.stockpreacher.com/n/CPE

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