FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person *   Loeffler Correne S 2. Date of Event Requiring Statement (Month/Day/Year) 05/11/2017 3. Issuer Name and Ticker or Trading Symbol CALLON PETROLEUM CO [CPE] (Last) (First) (Middle) 200 N CANAL ST 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) CFO and Treasurer 5. If Amendment, Date Original Filed(Month/Day/Year) 06/29/2017 (Street) NATCHEZ, MS 39120 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) 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)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		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
2017 RSU - Stock (1) (2)	05/11/2020	05/11/2020	Common Stock	7,068	$ 0	D	Â
2017 Performance Based Units - Cash (2) (3) (4)	12/31/2019	12/31/2019	Common Stock	3,030	$ (5)	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Loeffler Correne S 200 N CANAL ST NATCHEZ, MS 39120	Â	Â	  CFO and Treasurer	Â

Signatures

Clay V. Bland as Attorney-in-fact		07/10/2017
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	The award terms specify cliff vesting three years from the date of the award.
(2)	This award was omitted from the original Form 3, which was filed with the United States Securities and Exchange Commission on June 29, 2017.
(3)	The award terms specify cliff vesting on December 31, 2019.
(4)	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 as little as 0% to as much as 200%. The award terms also specify that upon vesting 100% of the vested units will be payable in cash.
(5)	Each unit is the economic equivalent of one share of the company's common stock.

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