FORM 3
        
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

WEANT JERRY A

2. Date of Event Requiring Statement (MM/DD/YYYY)
5/14/2015 

3. Issuer Name and Ticker or Trading Symbol

CALLON PETROLEUM CO [CPE]

(Last)        (First)        (Middle)

200 NORTH CANAL STREET

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                            _____ 10% Owner
___ X ___ Officer (give title below)          _____ Other (specify below)
Vice President of Land /

(Street)

NATCHEZ, MS 39120       

(City)              (State)              (Zip)
5. If Amendment, Date Original Filed (MM/DD/YYYY)

 

6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person


Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4) 		2. Amount of Securities Beneficially Owned
(Instr. 4) 		3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5) 		4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock   15017   D    
Common Stock   2581   I   401(k) Account  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 4) 		2. Date Exercisable and Expiration Date
(MM/DD/YYYY) 		3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4) 		4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5) 		6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
2013 RSU - Stock (Inducement Award)   (1) 7/1/2014   7/1/2016   Common Stock   66666   $0   D    
2014 RSU - Stock   (2) 5/14/2017   5/14/2017   Common Stock   5598   $0   D    
2014 Phantom Units   (2) (3) 5/14/2017   5/14/2017   Common Stock   988   $0   D    
2014 Phantom Units - Performance Based   (3) (4) 12/31/2016   12/31/2016   Common Stock   9880   $0   D    
2015 RSU - Stock   (2) 5/15/2018   5/15/2018   Common Stock   12424   $0   D    
2015 Phantom Units   (2) (3) 5/15/2018   5/15/2018   Common Stock   2192   $0   D    
2015 Performance Based Units - 50% Stock/50% Cash   (5) 12/31/2017   12/31/2017   Common Stock   21925   $0   D    

Explanation of Responses:
( 1)  These units/shares are subject to three-year ratable vesting with one-third vesting on each anniversary date following the grant date.
( 2)  The award terms specify cliff vesting three years from the date of the award.
( 3)  The terms of this Phantom Unit award specify payment in cash rather than in common shares.
( 4)  This Phantom Unit award is subject to a variable number of units vesting based on a performance criteria related to the total shareholder return of the company compared to a group of peer companies. The number of units subject to vest under this award can range from 0% to as much as 200%.
( 5)  This Performance Based Unit award is subject to a variable number of units vesting based on a performance criteria related to the total shareholder return of the company compared to a group of peer companies. The number of units subject to vest under this award can range from 0% to as much as 200%. The award terms also specify that upon vesting 50% of the vested units will be payable in common shares and 50% will be payable in cash.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
WEANT JERRY A
200 NORTH CANAL STREET
NATCHEZ, MS 39120

Vice President of Land

Signatures
Clay V. Bland as Attorney-in-fact 5/21/2015
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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