Gran Tierra Energy (GTE) 10-Q 2017 Q2 Quarterly report

Exhibit 12.1

STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands)

Our earnings were insufficient to cover fixed charges for the years ended December 31, 2016, 2015 and 2014. The following table sets forth our ratio of earnings to fixed charges for the six months ended June 30, 2017, and the years ended December 31, 2013 and 2012, and our deficiency of earnings available to cover fixed charges for the years ended December 31, 2016, 2015 and 2014.

	Six Months Ended June 30,		Year Ended December 31,
	2017		2016			2015			2014			2013		2012
Fixed charges
Contractual interest and other financing expenses	$	5,201	$	8,454		$	—		$	—		$	—	$	—
Amortization of debt issuance costs	1,225		5,691			—			—			—		—
Interest portion of rental expense	26		44			31			18			21		27
Total fixed charges	$	6,452	$	14,189		$	31		$	18		$	21	$	27
Earnings
Income (loss) income from continuing operations before tax	$	38,057	$	(650,234	)	$	(368,088	)	$	(17,134	)	$	309,284	$	196,349
Fixed charges per above	6,452		14,189			31			18			21		27
	$	44,509	$	(636,045	)	$	(368,057	)	$	(17,116	)	$	309,305	$	196,376
Ratio of earnings to fixed charges	7											14,729		7,273
Deficiency of earnings available to cover fixed charges			$	(636,045	)	$	(368,057	)	$	(17,116	)