CUSIP No. 13123x102 13G Page 1 of 3 pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Guardian Life Insurance Company of America
13-5123390
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
201 Park Avenue South
New York, New York 10003
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NUMBER OF 5 SOLE VOTING POWER
SHARES Right to acquire 463,692 shares of common stock.
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH Right to acquire 463,692 shares of common stock.
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8 SHARED DISPOSITIVE POWER
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
463,692 shares upon conversion of 204,000 shares of $2.125 convertible
preferred stock
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Right to acquire 7.46% of common stock
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12 TYPE OF REPORTING PERSON*
IC
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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Page 2 of 3 pages
Item 1. (a) Callon Petroleum
(b) 200 North Canal Street
Natchez, MS 39120
Item 2. (a) The Guardian Life Insurance Company of America
(b) 201 Park Avenue South, New York, New York 10003
(c) New York, U.S.A.
(d) Convertible Preferred Stock
(e) CUSIP 13123x102
Item 3. (c) Insurance Company as defined in section 3(a)(19) of the Act
Item 4. (a) Right to acquire 463,692 shares of common stock upon
conversion of 204,000 shares of the issuer's $2.125
convertible preferred stock.
(b) Right to acquire 7.46% shares of common stock
(c) (i) Right to acquire 463,692 shares of common stock
(ii) 0
(iii) Right to acquire 463,692 shares of common stock
(iv) 0
Item 5. Not Applicable
Item 6. Not applicable
Item 7. Not applicable
Item 8. Not applicable
Item 9. Not applicable
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Page 3 of 3 pages
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary
course of business and were not acquired for the purpose of and do not have
the effect of changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a participant in
any transaction having such purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 14, 1996
The Guardian Life Insurance Company of America
By: /S/ Edward K. Kane
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Edward K. Kane, Senior Vice President
