Petrohawk Energy 10-Q 2007 Q2 Quarterly report

Exhibit 12.1

Computation of Ratio of Earnings to Combined Fixed Charges and Preference Dividends

(In thousands, except ratios)

	Six Months Ended June 30,				Years Ended December 31,
	2007		2006		2006		2005			2004		2003		2002
Earnings
Pre-tax (loss) income	$	41,600	$	61,246	$	189,098	$	(25,697	)	$	9,246	$	990	$	(6,882	)
Fixed charges		62,768		21,353		89,086		25,795			3,269		528		618
Total earnings	$	104,368	$	82,599	$	278,184	$	98		$	12,515	$	1,518	$	(6,264	)
Fixed charges
Interest expense and amortization of finance costs	$	62,187	$	21,134	$	88,414	$	25,551		$	3,178	$	476	$	558
Rental expense representative of interest factor		581		219		672		244			91		52		60
Total fixed charges	$	62,768	$	21,353	$	89,086	$	25,795		$	3,269	$	528	$	618
Ratio of earnings to fixed charges		1.7		3.9		3.1		—	(1)		3.8		2.9		—	(3)
Total fixed charges	$	62,768	$	21,353	$	89,086	$	25,795		$	3,269	$	528	$	618
Pre-tax preferred dividend requirements		—		352		352		680			507		456		447
Total fixed charges plus preference dividends	$	62,768	$	21,705	$	89,438	$	26,475		$	3,776	$	984	$	1,065
Ratio of earnings to combined fixed charges and preference dividends		1.7		3.8		3.1		—	(2)		3.3		1.5		—	(4)

(1) Due to the Company’s loss for the year ended December 31, 2005, the ratio coverage was less than 1:1. The Company must generate additional earnings of $25.7 million to achieve a coverage ratio of 1:1.

(2) Due to the Company’s loss for the year ended December 31, 2005, the ratio coverage was less than 1:1. The Company must generate additional earnings of $26.4 million to achieve a coverage ratio of 1:1.

(3) Due to the Company’s loss for the year ended December 31, 2002, the ratio coverage was less than 1:1. The Company must generate additional earnings of $6.9 million to achieve a coverage ratio of 1:1.

(4) Due to the Company’s loss for the year ended December 31, 2002, the ratio coverage was less than 1:1. The Company must generate additional earnings of $7.3 million to achieve a coverage ratio of 1:1.