Exhibit 12
Calculation of Ratio of Earnings to Fixed Charges
Northern Oil and Gas, Inc.
Year Ended December 31, | ||||||||||||
2005 | 2006 | 2007 | 2008 | 2009 | Q1 FY 10 | |||||||
Adjusted(1) | ||||||||||||
Earnings | ||||||||||||
Income (Loss) Before | ||||||||||||
Income Taxes | - | - | (4,305,293) | 1,594,340 | 4,264,952 | 2,536,630 | ||||||
Less: Capitalized Interest | ||||||||||||
Included in Interest | ||||||||||||
Expense Below | - | - | - | - | (624,717) | (26,515) | ||||||
Total Earnings | - | - | (4,305,293) | 1,594,340 | 3,640,235 | 2,510,115 | ||||||
Fixed Charges | ||||||||||||
Interest Expenses: | ||||||||||||
Interest Expense | ||||||||||||
Capitalized Interest | ||||||||||||
Interest Component of Rental Expense | - | - | - | - | 624,717 | 26,515 | ||||||
Total Interest Expense | - | - | - | - | 624,717 | 26,515 | ||||||
Amortization of Debt | ||||||||||||
Issuance Costs | - | - | - | - | 459,343 | 150,398 | ||||||
Total Fixed Charges | - | - | - | - | 1,084,060 | 176,913 | ||||||
Earnings Available for | ||||||||||||
Fixed Charges | $ - | $ - | $(4,305,293) | $1,594,340 | $4,724,295 | $2,687,028 | ||||||
Ratio of Earnings to | ||||||||||||
Fixed Charges | - | - | - (2) | - (2) | 4.36 | 15.19 |
_____________________
(1) | See Note 2 to the financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2009, which is incorporated herein by reference. |
(2) | For the years ended December 31, 2007 and 2008, there were no fixed charges. |