Attached files
Exhibit 12.1
Endeavour International Corporation
Endeavour International Corporation
Computation of Ratios of Earnings to Fixed Charges
(Amounts in thousands)
Computation of Ratios of Earnings to Fixed Charges
(Amounts in thousands)
| Year Ended December 31, | ||||||||||||
| 2010 | 2009 | 2008 | ||||||||||
Earnings: |
||||||||||||
Income (Loss) before Taxes |
$ | 55,743 | $ | (94,687 | ) | $ | 49,975 | |||||
Add: Fixed charges |
38,517 | 19,697 | 26,973 | |||||||||
Less: Capitalized interest |
(3,925 | ) | (3,067 | ) | (3,998 | ) | ||||||
Earnings |
$ | 98,185 | $ | (71,923 | ) | $ | 80,946 | |||||
Fixed Charges: |
||||||||||||
Interest expense |
$ | 34,592 | $ | 16,630 | $ | 22,975 | ||||||
Capitalized interest |
3,925 | 3,067 | 3,998 | |||||||||
Total fixed charges |
$ | 38,517 | $ | 19,697 | $ | 26,973 | ||||||
Ratio of earnings to fixed charges |
2.5 | — | 3.0 | |||||||||
For purposes of this computation, earnings are defined as pretax earnings from continuing
operations before adjustment for minority interest and equity losses in entities with oil and gas
properties, plus interest expense, and amortization of debt discount and expense related to
indebtedness. Fixed charges are interest expense, including amortization of debt discount and
expenses on indebtedness.
Earnings were insufficient to cover fixed charges by $91.6 million for the year ended December 31,
2009.