CPNO Services S-3ASR Automatic shelf registration

Exhibit 12.1

Copano Energy, L.L.C. and Subsidiaries
Computation of Ratios of Earnings to Fixed Charges
(In Thousands)

	Six Months
	Ended
	June 30,						Year Ended December 31,
	2006			2005			2004			2003			2002			2001
Earnings:
Net Income (loss)	$	26,300		$	30,352		$	(915	)	$	(4,717	)	$	(1,641	)	$	4,052
Income taxes		—			—			—			—			—			—
Equity in (earnings) loss from unconsolidated affiliates		(95	)		(927	)		(419	)		127			584			—
Pre-tax income (loss) from continuing operations		26,205			29,425			(1,334	)		(4,590	)		(1,057	)		4,052
Fixed charges		16,316			20,658			23,352			13,114			8,682			2,408
Amortization of capitalized interest		4			4			4			4			4			1
Distributed income from unconsolidated affiliate		—			—			—			—			145			—
Capitalized interest		(338	)		—			—			—			—			(74	)
Preferred equity distributions		—			—			—			(810	)		(2,194	)		—
Earnings for ratio calculation	$	42,187		$	50,087		$	22,022		$	7,718		$	5,580		$	6,387
Fixed charges:
Interest and other financing costs	$	15,787		$	20,461		$	23,160		$	12,108		$	6,360		$	2,227
Capitalized interest		338			—			—			—			—			74
Interest portion of operating leases		191			197			192			196			128			107
Preferred equity distributions		—			—			—			810			2,194			—
Total fixed charges	$	16,316		$	20,658		$	23,352		$	13,114		$	8,682		$	2,408
Ratios of earnings to fixed charges		2.6	x		2.4	x		—			—			—			2.7	x

     For purposes of computing the ratios of earnings to fixed charges, earnings consist of pre-tax income from continuing operations before equity in (earnings) loss from unconsolidated affiliates plus fixed charges, amortization of capitalized interest and distributions from equity investees less capitalized interest and preference equity distributions. Fixed charges consist of interest expensed and capitalized, distributions on preference units and the estimated interest component of rent expense. Earnings were inadequate to cover fixed charges for the years ended December 31, 2004, 2003 and 2002 by $1.3 million, $5.4 million and $3.1 million, respectively.